New Nebraska Income Tax Credit Alert

[NECPA in NEBRASKA]

I'm just alerting anyone that is preparing a Nebraska Tax return, individual or entity, that there is a new form PTC that will be extra work. It is a credit for school property taxes paid and you may not receive the property tax forms from the client. You will need to use the new property tax lookup tool to get the correct school district tax amount for the parcel(s) of land owned. Here is a link to it.   https://ndr-1107parcel.ne.gov/parcelldLookup/faces/search.xhtml

If you don't have the parcel numbers, you will need to go to the different county assessor websites. Fun! I know that the Nebraska Society has been in touch with the government to see if there could be an easier way to do this, but I have not seen anything recently. I just looked up an individual and the research took me about 6 minutes to on both websites. Then it all has to be entered on the PTC form. Very few people bring me their tax statements. They write it down or just bring me their mortgage statement. It will be much longer for anyone that owns multiple parcels. I am absolutely charging extra for every return. 

For some reason, neither of the tax update schools that I attended in December talked much about this credit. The Nebraska Department of Revenue does have a couple of videos on their website about it.