State & Local Tax Impacts of COVID-19 Resource Center
Information current as of February 28, 2021.
Calendar-year 2021 seems to have unfortunately carried over many of the issues from 2020, as COVID-19 continues to affect much of our daily lives. Taxing jurisdictions are still actively taking mitigating actions and/or extending relief provisions, which generally result in additional time to file and/or pay for tax year 2020 filings (unless noted otherwise). Further, many jurisdictions continue to operate under limited in-person procedures for their compliance, audit, and administrative functions. These developments continue to quickly evolve; check with your BKD Trusted Advisor™ or visit our COVID-19 Resource Center for current information as needed. Continue reading for a by-state listing of developments. Also, please note that these tracking lists don’t include similar relief from local-level taxing authorities.
As many state legislatures were already out of session or suspended by the time the pandemic shutdown occurred last year, the majority of state tax developments were announced via administrative actions during 2020. For 2021, most state legislatures are in full session, so BKD anticipates legislative developments to be more prevalent this year. However, the following states have suspended their 2021 legislative sessions due to COVID-19:
- Colorado Suspended until February 16, 2021
- 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.
Visit our COVID-19 Resource Center for relevant news, changing guidelines, and new regulations, as well as BKD’s COVID-19 Recovery Dashboard—a dynamic data stream designed to provide a snapshot of the economic information that’s most important to you.