Form T-86 Bank Deposits Tax - Rhode Island

What Is Form T-86?

This is a legal form that was released by the Rhode Island Department of Revenue - Division of Taxation - a government authority operating within Rhode Island. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form T-86?
A: Form T-86 is a tax form used in Rhode Island to report bank deposits.

Q: Who needs to file Form T-86?
A: Individuals and businesses who have bank deposits in Rhode Island may need to file Form T-86.

Q: When is Form T-86 due?
A: Form T-86 is typically due by April 15th of each year, the same as the federal income tax return.

Q: What information is required on Form T-86?
A: Form T-86 requires information about the bank accounts, deposits, and interest earned in Rhode Island.

Q: Are there any exemptions or deductions on Form T-86?
A: There may be certain exemptions or deductions available on Form T-86, but they vary depending on individual circumstances.

Q: Is there a fee for filing Form T-86?
A: There is no fee for filing Form T-86 in Rhode Island.

Q: What happens if I don't file Form T-86?
A: Failure to file Form T-86 or underreporting bank deposits may result in penalties or fines.

Q: Can I file Form T-86 electronically?
A: Yes, Rhode Island offers the option to file Form T-86 electronically.