Baker-Polito Administration Releases
Income Tax Guidance and Announces Penalties Waived for Corporate Excise Returns
and Payments
BOSTON – The
Baker-Polito Administration today released guidance regarding the extension of
the 2019 state individual income tax filing and payment deadline from
April 15 to July 15 due to the COVID-19 outbreak, and announced that the
Department of Revenue (DOR) will waive any late-file and late-pay penalties for
corporate excise returns and payments due April 15 that are filed and
paid by July 15.
This guidance, publicized in the form of
a Technical Information Release (TIR) from DOR, clarifies that the extension
for personal income taxpayers applies to 2019 returns and payments as well as
the first installment of estimated tax due April 15. The second
installment of estimated tax due June 15 will also now be due
July 15.
The extension of the personal income tax
return deadline is being implemented pursuant to legislation and applies to
personal income tax, estate and trust income tax, and income tax due with a
partnership composite return with an April 15 due date. It also
applies to an April 2020 tax installment owed by a personal income taxpayer
with respect to deemed repatriated income. Taxpayers that have previously filed
their 2019 returns but have not yet made the associated payments
have until July 15 to make such payments.
Additionally, DOR will waive late-file
and late-pay penalties for corporate excise (including financial institution
and insurance premiums excise) returns and payments until July
15. The waiver of penalties applies to corporate excise returns and
payments with an original due date of April 15, including those of certain
S corporations and non-profits that file on a fiscal-year basis and have tax returns
and payments due April 15.
This income tax relief is automatic, and
taxpayers do not need to file any additional forms to qualify.
Individuals and companies with questions
or concerns regarding taxes can contact the Massachusetts Department of Revenue
at (617) 887-6367 or send a secure e-message through MassTaxConnect.
For more information and to view the TIR
please click
here.
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