Texas Provides COVID-19 Sales Tax Relief
As COVID-19 (a.k.a. New Coronavirus) continues to spread and hold our businesses and economy hostage, State governments are starting to respond with much-needed relief by offering things like filing and payment deadline extensions for sales and use tax returns. In some cases, penalties and/or interest due to late payments are being waived as well.
To date, the Texas Comptroller’s Office has issued the following taxpayer relief:
- The Texas Comptroller is offering short-term payment agreements to businesses struggling to pay the full amount of sales taxes collected. In most cases, it allows for waivers of penalties and interest. To learn about the options available to you, call the Enforcement Hotline at 800-252-8880 or check out the COVID-19 news here.
- To provide Texas franchise taxpayers some relief, and to align with the Internal Revenue Service (IRS), the Texas Comptroller of Public Accounts has extended the deadline to file and pay the 2020 Texas franchise tax to July 15, 2020.
- Taxpayers with existing payment plans are encouraged to call the Enforcement Hotline at 800-252-8880, as the Comptroller’s office will consider, on a case-by-case basis, postponement on the deadlines to remit plan payments to the Comptroller’s office. This relief is only an option for those with existing payment plan agreements for periods prior to the February 2020 tax report.
Be sure to check back frequently as we will add new information and updates as they become available. It is important for business owners, Texas sales tax lawyers, CPA’s and other professionals to stay up to speed on this fluid situation. Also, reference the Texas Comptroller website for the latest state tax guidance.
Sales Tax Consulting Services
Get a free 30-minute Consultation
We want to work with you! We would love to understand your problems, questions, and concerns. For that reason, we are offering our famous, free 30-minute consulting call where we get to know more about you and your business. Just click the link below and schedule your call.