CCH Tax Day Report
The New York Department of Taxation and Finance has announced that due to the impact of Winter Storm Stella that began on March 14, 2017, certain state tax filing and payment deadlines have been postponed for taxpayers who were directly affected by the storm. Deadlines have been postponed for the period beginning on or after Tuesday, March 14, 2017, and ending on or before Sunday, March 19, 2017, for:
– filing any returns, including those for personal income tax, corporate taxes and any other taxes administered by the Tax Department;
– paying any tax or installment of tax, including installment payments of estimated taxes (with exceptions, noted below);
– filing any requests for extensions or additional extensions of time to file;
– filing for a credit or refund;
– filing for a redetermination of a deficiency, or an application for review of a decision;
– allowing a credit or a refund;
– assessing tax;
– giving or making a notice or demand for payment of tax;
– collecting tax by levy or otherwise;
– bringing suit by New York State for any tax liability;
– making of elections; and
– any other act required or permitted under the Tax Law or specified in the New York State Tax Regulations.
All deadlines for performance of the above required acts occurring during the period on or after March 14, 2017, and on or before March 19, 2017, have been postponed to March 20, 2017. Interest at the appropriate underpayment rate must be paid on tax payments received after March 20, 2017. However, exceptions to the postponement include: (1) remittances of income tax withheld by employers required to be made using Form NYS-1, Return of Tax Withheld; (2) remittances of withholding tax or MCTMT required to be made by employers through the PrompTax system; and (3) remittances of sales tax, prepaid sales tax and excise tax on motor fuel and diesel motor fuel, and petroleum business tax required to be made through the PrompTax system.
Taxpayers adversely affected by the snowstorms do not need to apply for a waiver or an extension to obtain this relief. If any affected taxpayer receives a penalty notice from the Tax Department, the taxpayer should call the number on the notice to have the department abate any interest and any late filing or late payment penalties that would otherwise apply during the period from March 14, 2017, to March 19, 2017. No penalty or interest will be abated for a taxpayer who does not have a filing or payment due date (including an extended filing or payment due date) during this period. Abatements of penalties on all other late filings of returns or late payments not made by the date required by law and not covered by this announcement will be handled on a case-by-case basis.
Important Notice N-17-3, New York Department of Taxation and Finance, March 2017