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NYC Business Tax Filing Extensions and the COVID-19 Outbreak

Wayne Berkowitz, CPA, J.D., LL.M. and Richard Goldstein, J.D.

3.20.20 | Client Alert – COVID-19 Update

The New York City Department of Finance (DOF) recognizes that taxpayers and return preparers affected by the COVID-19 outbreak may be unable to meet certain New York City filing and payment deadlines. Therefore, DOF Commissioner, Jacques Jiha, is exercising his authority under the Administrative Code of the City of New York to allow for a waiver of penalties for DOF-administered business and excise taxes (e.g. Commercial Rent Tax, Hotel Occupancy Tax) due between March 16, 2020, and April 25, 2020. Taxpayers may request to have the penalties waived on a late-filed extension or return, or in a separate request.

Please note that this notice only applies to New York City, as New York State is yet to issue any formal guidance regarding filing or payment extensions.

To review the full NYC DOC Memorandum, click here.

Questions? Contact Wayne Berkowitz at 212.331.7465 | wberkowitz@berdonllp.com, Richard Goldstein, J.D. at 212.331.7557 | rgoldstein@berdonllp.com, or reach out to your Berdon tax advisor.