Please visit this blog post for a more recent update regarding tax payment extension as the below information is now outdated: Federal & State Tax Deadlines Extended
Maryland Comptroller, Peter Franchot has announced that Maryland will be extending business-related tax filing deadlines to assist businesses that have been impacted by the coronavirus (COVID-19).
Please know that at BSSF, our goal for any of our clients is to continue operating as normal with the original plan determined by your tax advisor. However, if you have been impacted by the current situation, contact your BSSF tax advisor immediately to discuss the situation.
The announcement from the Maryland Comptroller included the following:
- The deadline has been extended to June 1st for certain business returns.
- This extension applies to businesses filing sales and use tax, withholding tax, admissions and amusement tax, alcohol, tobacco and motor fuel excises taxes, tire recycling fee and bay restoration fee returns, who have due dates in March, April or May 2020.
- If your business files by the extended due date, you will receive a waiver of interest and penalties.
- If the IRS extends the April 15th filing deadline for individual and corporate income tax returns, the state of Maryland will follow the same deadline.
As of this morning, no official announcement has been released by the IRS regarding an extension of the federal deadlines. There has also not been an announcement from the state of Pennsylvania regarding any extensions.
BSSF will continue to provide updates as the situation evolves.
Should you have any questions or concerns, please contact your BSSF tax advisor.
Disclaimer: This communication is intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.