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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 15th, 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 15th 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 15th 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@nullaafcpa.com; or your AAFCPAs Partner.

About the Author

Richard Weiner CPA
Rich has over 30 years of broad tax experience with a specialty in tax planning and consulting for private and publicly-held businesses. Rich has specific expertise in the Software, Bio-Technology, Medical Device, Life Science, Manufacturing, Retail, Professional Service and Publishing industries, as well as U.S. aspects of international taxation. He works extensively with European companies expanding into the U.S. market. Additional areas of focus include companies and stockholders in transition, including structuring of and planning for Mergers & Acquisitions, planning for changes in ownership and management, and adoption of tax methodologies with a view toward the long term. He is well known in his field and is a frequent speaker on a variety of tax related topics.