Tax Penalty Relief:
Small businesses in Michigan scheduled to make their monthly sales, use and withholding tax payments on March 20 can postpone filing and payment requirements until April 20. All tax penalties are waived for 30 days, including interest. Click here for more details.
What about other State Taxes?
The State of Michigan is currently monitoring the Federal Situation regarding individual income tax. The State has made no announcements about changing the state income tax deadline at this time. The American Institute of Certified Public Accountants (AICPA) is maintaining a State Tax Filing Relief Chart for Coronavirus. Click on the link to check out the latest developments on state tax filings related to coronavirus.
The Bottom Line
Contact us to learn more about how this tax penalty relief may apply to your business.
This information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Hare CPAs + Business Advisors to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader’s specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or Hare CPAs + Business Advisors or other tax professional prior to taking any action based upon this information. Hare CPAs + Business Advisors assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.