Statutory Guidelines [Appendix A(6) Revenue Procedure 93-34] regarding rules under which a designated settlement fund described in section 468B(d)(2) of the Internal Revenue Code or a qualified settlement fund described in section 1.468B-1 of the Income Tax Regulations will be considered "a party to the suit or agreement" for purposes of section 130.
Arizona Revenue Procedure 93-34 is a tax regulatory document issued by the Arizona Department of Revenue. It provides guidance and instructions regarding the interpretation and application of various tax laws in the state of Arizona. This revenue procedure is primarily focused on providing taxpayers with clarity on specific tax-related issues and determining the appropriate tax treatment for certain transactions or situations. One of the key areas covered by Arizona Revenue Procedure 93-34 is the treatment of various tax credits and deductions available to individuals and businesses in Arizona. It outlines the eligibility criteria, documentation requirements, and procedures for claiming these credits or deductions. This revenue procedure plays a crucial role in ensuring compliance with Arizona's tax laws and preventing potential misunderstandings or misinterpretations. Furthermore, Arizona Revenue Procedure 93-34 also addresses topics such as tax exemptions, reporting requirements, and the resolution of tax disputes. It provides instructions on how taxpayers can seek clarification or resolve any disputes they may have with the Arizona Department of Revenue, promoting fairness and transparency in the tax system. It is important to note that while the primary focus of Arizona Revenue Procedure 93-34 is tax credits, deductions, and related matters, there may be different types or additional revenue procedures issued by the Arizona Department of Revenue. These additional procedures might cover specific taxes or industries, such as sales tax or property tax, and may have separate numeric designations or titles to distinguish them from 93-34. In summary, Arizona Revenue Procedure 93-34 is a comprehensive and essential document that guides taxpayers in understanding and complying with Arizona's tax laws. It covers various topics, including tax credits, deductions, exemptions, reporting requirements, and dispute resolution. By adhering to the guidelines presented in this revenue procedure, taxpayers can ensure accurate reporting and minimize the risk of penalties or other tax-related issues.
