MA DOR Makes Official & Clarifies Tax Filing Delay

AAFCPAs would like to make clients aware that the Massachusetts Department of Revenue (DOR) today released guidance officially extending the April 15, 2020 deadline to July 15, 2020 for personal income tax, estate and trust income tax, partnership composite returns and personal income with respect to deemed repatriated income. The guidance also extends the due date of the Q1 and Q2 estimated payments to July 15, 2020.

While the guidance does not extend the April 15 deadline relief for C-corporations, the DOR is waiving late-file and late-payment penalties for returns filed by July 15^th, although interest will still accrue.

This guidance was announced in Technical Information Release (TIR 20-4): Tax Filing and Payment Relief for Personal Income and Corporate Excise Taxpayers Affected by COVID-19 >>

C-corps who need more time are advised to file an extension by April 15^th in order to extend the due date to Oct 15. As a reminder, 50% of the total 2019 tax liability needs to be paid by April 15^th in order to have a valid Massachusetts corporate extension.

If you have any questions please contact: Richard Weiner, CPA, MST at 774.512.4078, rweiner@aafcpa.com; or your AAFCPAs Partner.