Arkansas State Tax Filing

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Arkansas Tax Details

The Arkansas Department of Finance and Administration made a few changes for the 2020 tax year. Taxpayers are now required to calculate their net operating loss carryforward for Arkansas, rather than use their federal net operating loss amount. Arkansas does not conform to some federal changes this year. IRA payments cannot be deducted for those older than 70 ½ . There is still a penalty for early retirement distributions, even if they were for a qualified disaster.

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