State & Local Tax Impacts of COVID-19
Information current as of September 30, 2020.
The SARS-CoV-2 virus and the incidence of COVID-19 are changing life across the globe. Many taxing jurisdictions are taking mitigating actions to create social distance and aid taxpayers. The following is a running list of actions by jurisdiction, which generally result in additional time to file and/or pay. Further, many jurisdictions have closed their offices to in-person use by taxpayers and suspended their audit and administrative functions. This alert doesn’t cover similar waivers from local-level taxing authorities. These developments continue to quickly evolve; check with your BKD Trusted Advisor™ or visit our COVID-19 Resource Center for current information as needed.
The following jurisdictions have suspended legislative activities as noted:
- All legislatures are back in session, in special session, or adjourned for the year.
- The IRS has issued a 90-day extension to the April 15 deadline to file and pay taxes. The IRS also removed the dollar limitations previously imposed on the deferral.
- Notice 2020-17, March 20, 2020 – See this recent BKD Thoughtware® article for more information.
- The IRS has updated its comprehensive list of tax forms and payments that have been extended. Individuals, trusts, estates, corporations and other noncorporate tax filers now have extra time to file and pay their taxes for 2019 and make estimated first- and second-quarter tax payments for 2020 until July 15.
- Notice 2020-23, April 9, 2020.
- Also see IRS Coronavirus Tax Relief webpage.
For more information, reach out to your BKD Trusted Advisor or use the Contact Us form below.