United States

Colorado: Department of Revenue Rescinds All Prior Revenue Bulletins

Mar 05, 2018
From KPMG TaxWatch

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In Colorado Revenue Bulletin 18-01, issued February 28, 2018, the Department of Revenue announced that it was rescinding all previous Revenue Bulletins and Policy Positions published by the Department. The documents, which were last published by the Department during the late 2000’s, do not represent the Department’s official position on any tax matter, and the Department does not consider them binding. Per the Department, these documents, as well as certain Revenue Determinations, should not be relied on for any purpose. Under current practice, many taxpayers cite to or reference the now-rescinded documents in formulating positions.

The recent announcement reminds taxpayers that they can seek guidance on tax issues beyond the statute by consulting the Department’s rules and regulations. Furthermore, taxpayers seeking additional guidance can request a Private Letter Ruling or a General Information Letter. Private Letter Rulings are binding on the Department only with respect to the specific taxpayer that requested the ruling. General Information Letters, on the other hand, are for informational purposes only and are not binding on the Department. Please contact Steve Metz at 303-382-7177 with questions.

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The following information is not intended to be "written advice concerning one or more federal tax matters" subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.