Colorado DOR Issues Updated Guidance on Reporting Federal Adjustment Requests

The Colorado Department of Revenue (DOR) published revised guidance regarding reporting and paying state tax on final federal adjustments from IRS administrative adjustment requests (AAR). The guidance directs partnerships to electronically file a Partnership Federal Adjustments Report with DOR, notify all direct partners, and file amended returns and remit additional tax as needed, with deadlines of within 90 days of filing the AAR for partnership notifications, filings, and payments, within 180 days of the AAR filing for direct partners to amend, and, for tiered partners and their partners, no later than 90 days after the due date for the adjustment-year ...