William S. Lee Act Credits
The Department of Revenue is required to publish a report
on William S. Lee Act credits each year under G.S. 105-129.6(b). As required,
the report includes information on all returns processed during the 12-month
period ending December 31, 2002 on which Lee Act credits were claimed.
It should be noted that while most of the returns processed during this
period were submitted for the 2001 tax year, some were submitted for
a previous tax year.
The information provided in the reports reflects the amounts shown
by taxpayers on their tax forms. Some of the credits shown may have
been taken in error by the taxpayer, either deliberately or through
a misunderstanding of the eligibility requirements. In some cases,
it appears that taxpayers meant to claim one credit, but incorrectly
listed the amount on the line for another credit, possibly one for
which they were not eligible. The Department took a strict interpretation
of the requirement to report the amounts claimed by the taxpayer
and did not attempt to correct this type of error for the report.
In all cases, the information in this report and the databases from
which it was generated are available to the Department’s Examination
Division. That Division will use the data to identify taxpayers who
should be subjected to an audit.
2003 William S. Lee Article 3A Credit Report
For Returns Processed During CY 2002
Last modified on:
10/31/07 03:49:37 PM.
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