COVID-19 | Your Business Tax Relief Resource

COVID-19 Tax News

Keeping up with the ever-evolving news on the novel coronavirus (COVID-19) pandemic can be a cumbersome and confusing process as developments unfold and circumstances change daily if not hourly. Determining how state and local taxing authorities are reacting to the events by issuing revised deadlines, guidance, and tax relief in light of the situation is also an arduous task for businesses.

To help fellow businesses in these troubling times, Allyn has created multi-state COVID-19 Tax Relief Resources covering seven main tax types. Allyn’s goal in preparing the Business Tax Relief chart was to summarize the latest changes from state taxing authorities while encompassing many different tax types and provide the findings in one chart that is a free resource to businesses looking for quick answers. The chart and interactive map provide an overview of tax relief offered throughout each of the states in the US.

Tax Relief

While the IRS has extended the filing deadline for income tax returns on a federal level, many of the states have elected their own extensions of the time to file returns and or make payments. Tax relief for various tax types may be offered in the form of extended filing deadlines, reductions in penalties or interest for payments made after the statutory due dates, application for exemptions, or deferral of payments. In some cases, the relief is automatic; whereas in other states and for certain tax types, it may be requested.

Corporate income tax, indirect tax, miscellaneous state taxes, real property tax, personal property tax, unclaimed property holder reporting, and annual reports are covered in the free Allyn State by State COVID-19 Tax Relief Reference Chart and Business Tax Relief Interactive Map.

These complimentary tax relief references are located at: https://www.allynintl.com/tax-services/tax-resources/state-by-state-covid-19-tax-relief-reference-materials/. The chart and references are updated daily as states change their responses. Allyn is staying on top of these changes for you.

Support for Your Business

Whether you need a helping hand in terms of employee or personnel support in the Tax field or if you require tax consulting, Allyn is here to support your business. Allyn’s Tax operation has been working diligently serving our clients throughout the global crisis maintaining operations, exceeding expectations, and filing state and local business tangible personal property tax returns far ahead of scheduled original due dates. Allyn Tax is providing compliance throughout the US and Canada as well as tax consulting, audit defense, and exemption certificate management

Allyn is providing solutions that enable businesses to focus on their core purpose while Allyn manages the tax function. From supporting a select project to ensuring end to end operational support, Allyn Tax will help your business throughout today and beyond. Our goals for your business are that we improve your tax compliance, reduce your costs, and maximize your tax savings.

Tips for the Taxpayer

The information outlined in this article and Allyn Tax Reference Materials from Allyn’s website will assist your business in obtaining high-level, quick answers. It is extremely important to explore the details associated with each state’s response and supporting information as compared to your business situation to ensure your business has the tools necessary to file and pay both timely and accurately without incurring penalty or interest and while taking advantage of tax relief.

Knowing what is available and having that information in a concise reference tool is beneficial to businesses and taxpayers. For specific details, receiving guidance from a tax professional such as Allyn can help ensure your business is compliant with rules and regulations regarding the tax relief currently being offered by US states and localities.

How Can We Help?

Allyn’s tax team is staffed with seasoned tax professionals experienced in all aspects of Federal, multi-state and local tax compliance and consulting for large US and global corporations. We use that experience to your advantage.

Allyn files state and local tax returns in every US taxing jurisdiction and manages the process from data acquisition and analysis to return filing and payment of taxes. Allyn manages exemption and resale certificates in every applicable state. Allyn offers web-based software that electronically stores exemption certificates and key certificate data while Allyn’s Tax team reviews certificates for validity and accuracy upon receipt before they are electronically stored for compliance and audit defense.

Contact us and we can provide a customized cost-effective solution to meet your company’s needs. For further information on Allyn Tax services, please contact: tax@allynintl.com.

For More Information

If you are interested in learning more about this topic or other tax topics, please visit our Tax Publications under News & Publications at www.allynintl.com. Allyn provides additional Tax Resources available at https://www.allynintl.com/en/tax-services/tax-resources/reference-materials/.

Contributor: Trisha Davidson

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About Allyn International

Allyn International is dedicated to providing high quality, customer centric services and solutions for the global marketplace. Allyn's core products include transportation management, logistics sourcing, freight forwarding, supply chain consulting, tax management and global trade compliance. Allyn clients range from small local businesses to Fortune 500 firms. Allyn conducts business in more than 20 languages and has extensive experience in both developed and emerging markets. Highly trained experts are positioned throughout North and South America, Europe and Asia. Allyn’s regional headquarters are strategically located in Fort Myers, Florida, U.S.A., Shanghai, P.R. China, Prague, Czech Republic, and Dubai, U.A.E. For more information, visit www.allynintl.com.