ShindelRock clients have begun receiving pre-printed PPT forms for the 2019 filings. With that, for Oakland County resident at least, there is include a cover letter indicating a change in law regarding exemption filings. We have confirmed this is a state-wide change.
As such, below are a few items to note:
- The law was changed in May 2018 indicating that once you file an exemption form (Form 5076) for 2019 you will continue to receive the exemption until you file a new form rescinding your exemption.
- Nothing will change for this filing season. ShindelRock will file all 2019 exemptions forms as we have done in the prior years. However, next year, for the 2020 PPT filing forms, many of our clients will not be required to file any forms.
ShindelRock will monitor clients that are close to the reporting threshold going forward in case we need to rescind prior exemptions. For more information, contact your ShindelRock tax professional [1].