Statutory Guidelines [Appendix A(6) Revenue Procedure 93-34] regarding rules under which a designated settlement fund described in section 468B(d)(2) of the Internal Revenue Code or a qualified settlement fund described in section 1.468B-1 of the Income Tax Regulations will be considered "a party to the suit or agreement" for purposes of section 130.
Title: Understanding Delaware Revenue Procedure 93-34: A Comprehensive Guide with Relevant Keywords Introduction: Delaware Revenue Procedure 93-34 is a set of guidelines outlined by the State of Delaware's Department of Revenue (FOR). This procedure provides clarity on various tax-related matters, ensuring smooth operations and compliance for businesses operating within the state. In this article, we will delve into the details of Delaware Revenue Procedure 93-34, highlighting its purpose, key components, and any notable variations. Keywords: Delaware Revenue Procedure 93-34, tax guidelines, State of Delaware, Department of Revenue, compliance, tax-related matters. 1. Purpose of Delaware Revenue Procedure 93-34: Delaware Revenue Procedure 93-34 serves as a comprehensive resource for taxpayers and tax professionals, offering guidance in interpreting and complying with Delaware's tax laws. It aims to ensure consistency and accuracy in tax reporting, eliminate uncertainties, and promote fair taxation practices. Keywords: taxpayers, tax professionals, tax reporting, tax laws, fair taxation practices. 2. Key Components of Delaware Revenue Procedure 93-34: a. Tax Filing and Reporting: The procedure outlines specific instructions and requirements for filing tax returns, including deadlines, forms, and reporting formats. It covers various tax types, such as income tax, sales tax, and corporate tax, providing guidance on documentation and calculations. Keywords: tax filing, tax returns, deadlines, forms, reporting formats, income tax, sales tax, corporate tax, documentation, calculations. b. Taxpayer Responsibilities: Delaware Revenue Procedure 93-34 emphasizes the responsibilities of taxpayers, including record-keeping, documentation, and reporting obligations. It clarifies what information should be maintained, how long records should be retained, and the consequences of non-compliance. Keywords: taxpayer responsibilities, record-keeping, documentation, reporting obligations, information, record retention, non-compliance. c. Audits and Examinations: The procedure outlines the processes and protocols governing tax audits and examinations initiated by the Department of Revenue. It details the rights and obligations of both taxpayers and tax authorities during these procedures. Keywords: audits, examinations, Department of Revenue, rights, obligations, taxpayers, tax authorities. 3. Variations of Delaware Revenue Procedure 93-34: While Delaware Revenue Procedure 93-34 generally covers a wide range of tax-related matters, there are no specific variations or subtypes associated with this particular procedure. However, the Department of Revenue periodically updates the procedure to accommodate changes in tax laws and regulations. Taxpayers should stay informed about any amendments or updates issued by the department. Keywords: variations, subtypes, tax laws, tax regulations, amendments, updates. Conclusion: Delaware Revenue Procedure 93-34 is a crucial resource that provides taxpayers and tax professionals with clear guidelines on tax filing, reporting, and compliance within the State of Delaware. By following this procedure, businesses can effectively navigate tax-related matters and ensure they abide by the state's requirements. Staying updated on any modifications or updates issued by the Department of Revenue is vital to maintaining compliance. Keywords: Delaware Revenue Procedure 93-34, tax filing, reporting, compliance, guidelines, tax professionals, State of Delaware, Department of Revenue.
