New legislation Affect your clients.

SB 86 became law March 24 and included several items that may affect your clients' tax return preparation next year:

* Use Tax Lookup Table: The FIB will revise the ineome lax forms and instructions to include a use tax table to allow taxpayers to determine the amount of use tax they owe. This provision is operative for purchases of tangible personal property made on or after Jan. 1. 2011, in taxable years beginning on or after Jan. 1.2011.

* Child and Dependent Care Credit: The credit is no longer refundable. This provision is operative for taxable years beginning on or after Jan. 1. 2011.

* Voluntary Compliance Initiative: This bill authorizes a new voluntary compliance initiative permitting taxpayers to file amended returns and pay the tax and...