West Virginia Code of State Rules › Agency 110 - Tax › Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT › Series 110-21 - Personal Income Tax › Section 110-21-58 - Requirements Concerning Returns, Notices, Records And Statements

Current through Register Vol. XLI, No. 28, July 12, 2024
58.1. General. -
				Every person subject to tax under the West Virginia Personal Income Tax Act, or
				subject to collection of such tax, and any person required to file a return of
				information with respect to income, shall keep such permanent books of account
				or records as are sufficient to establish the amount of gross income,
				deductions, credits or other matters required to be shown by such person in any
				return of such tax or information. The Tax Commissioner is authorized to
				prescribe the content and form of returns and statements, and may require the
				inclusion in a return, document, or statement of any information he deems
				necessary for the proper enforcement of the West Virginia Personal Income Tax
				Act. For purposes of this regulation, the term "person" shall include, but is
				not limited to, any individual, firm, partnership, limited partnership,
				copartnership, joint adventure, association, corporation, S corporation,
				municipal corporation, organization, receiver, estate, trust, guardian,
				executor, administrator, and also any officer, employee or member of any of the
				foregoing who, as such officer, employee or member, is under a duty to perform
				or is responsible for the performance of an act prescribed by the provisions of
				the West Virginia Personal Income Tax Act or these regulations.
58.1.1. If no method of accounting has been
				regularly used by the taxpayer, or if the method used does not clearly reflect
				income, then the computation of taxable income shall be made under such a
				method as, in the opinion of the Tax Commissioner, does clearly reflect
				income.
58.1.2. Bookkeeping
				entries, in and of themselves, are not conclusive of the amount of income. The
				actual facts, rather than the book entries, control. In addition, entries on
				another individual's books are not conclusive against a taxpayer.
58.1.3. Retention Of Records. - The books or
				records required by this Section 58 shall be kept at all times available for
				inspection by authorized representatives of the Tax Commissioner.
58.1.4. Farmers And Wage Earners. -
				Individuals deriving gross income from the business of farming as defined under
				Subsection 55.5.1.1 of these regulations, and individuals whose gross income
				includes salaries, wages or similar compensation for personal services
				rendered, are required with respect to such income to keep such records
				(including duplicate copies of the wage and tax deduction statements furnished
				by their employers) as will enable the Tax Commissioner to determine the
				correct amount of income subject to tax.
58.1.5. Form Of Records. - The records
				required in this regulation shall be kept accurately, but no particular form is
				required for keeping the records. Such methods of accounting shall be used
				which will enable the Tax Commissioner to ascertain whether liability for tax
				has been incurred, and, if so, the correctness of the amounts required to be
				reported in any return of tax or information.
58.1.6. Employer's Records.
58.1.6.1. Every employer or withholding
				agent, as defined for federal withholding tax purposes, required under the West
				Virginia Personal Income Tax Act to deduct and withhold State income taxes upon
				the wages of employees, and every person, firm, organization or corporation
				required to file information returns as described in this regulation, shall
				keep all records pertinent to these taxes and information reports available for
				examination and inspection by the Tax Commissioner, or his authorized
				representatives. Such records shall be retained and preserved for a period of
				five (5) years following the close of the calendar year to which they
				relate.
58.1.6.2. No particular
				form is prescribed for such records, but the records shall include the amounts
				and dates of all wage payments subject to West Virginia personal income taxes,
				the names, addresses and occupations of employees receiving such payments, the
				periods of their employment, the periods for which they are paid by the
				employer while absent due to sickness or personal injuries and the amount and
				weekly rate of such payments, their social security account numbers, their
				income tax withholding exemption certificates, the employer's identification
				number, records of monthly or quarterly and annual withholding returns and
				reports filed, and the dates and amounts of withholding tax payments
				made.
58.1.6.3. For nonresidents,
				performing services partly within and partly without the State, a record of the
				allocation used for withholding purposes must be kept.
58.1.7. Notice By Tax Commissioner Requiring
				Returns, Statements, Or The Keeping Of Records. - The Tax Commissioner may
				require any person, by notice served upon him, to make such returns, render
				such statements, furnish such copies of federal income tax returns and of
				federal audit determinations, or keep such specific records as the Tax
				Commissioner may deem necessary to verify whether or not such person is
				complying or has complied with any applicable provision of the West Virginia
				Personal Income Tax Act.
58.1.8.
				Copies Of Returns, Schedules And Statements. - Every person who is required in
				these regulations or by instructions applicable to any form prescribed
				thereunder to keep a copy of any return, schedule, statement or other document,
				shall keep such copy as a part of his records.
58.1.9. Place For Keeping Records. - All
				records prescribed by these regulations shall be kept, by the person required
				to keep them at one (1) or more convenient safe locations accessible to the
				authorized representatives of the Tax Commissioner, and shall at all times be
				available for inspection by such representatives.