Press Releases

Student loan forgiveness excluded pursuant to IRC 108(f)(5) is currently considered taxable income in North Carolina. The Department of Revenue is monitoring any further enactments by the General Assembly that could change the taxability of student loan forgiveness in North Carolina. 

The NCDOR has posted an updated notice about the tax deduction for certain military retirement pay and Survivor Benefit Plan payments.

Wake County businessman Joseph Patrick O’Keefe, 56, pleaded guilty in Wake County Superior Court on Aug. 2, 2022, to five counts of Embezzlement of State Property.

The NCDOR clarifies its philosophy and practices on sharing tax information in response to an article in Law360.

The NCDOR has published a notice about recent changes to how the penalty for failure to pay a tax when due is calculated. 

The N.C. Department of Revenue received more than 23,000 applications for Phase 2 of the Business Recovery Grant (BRG) program that closed on June 1, 2022. Given the large number of applications to be reviewed and the administrative complexities involved in verifying and calculating award amounts, the Department is unable to give an exact timeline of when grant applicants can expect to be formally notified and checks are mailed to recipient businesses.

The deadline for businesses impacted by the COVID-19 pandemic to apply for Phase 2 of the Business Recovery Grant Program is Wednesday, June 1.

A Charlotte man was arrested on May 24, 2022, for felony tax charges filed by the North Carolina Attorney General’s Office on behalf of the North Carolina Department of Revenue.

Phase two of the Business Recovery Grant program is going strong, with more than 7,000 applications submitted so far. The application period is open until June 1.