skip to main content
X

NEW YORK CITY TAX FILING GUIDANCE

NEW YORK CITY TAX FILING GUIDANCE

As of April 2, 2020, New York City has not extended the due date for filing business and excise tax returns. NYC personal income taxes are collected by the New York State Department of Taxation and Finance. Unless a taxpayer is a non-resident paying NYC taxes, NYC personal income taxes are filed on New York State forms, which are due on July 15, 2020. First quarter 2020 estimated tax payments are extended until July 15, 2020.

The NYC Department of Finance has announced it will waive penalties for late filing, late payment and underpayment penalties for business and excise taxes originally due between March 16, 2020 and April 25, 2020.   Individuals subject to NYC income tax are covered by the New York State extension of time to file, but those individuals who are subject to the NYC Unincorporated Business Tax (UBT) are not.

We recommend filing extensions for business and excise tax filings. Taxpayers will need to request that penalties be waived after the fact if they do not file a tax return or extension request and make a payment by April 15, 2020. 

Additionally, although late filing and late payment penalties will be waived, interest will still need to be paid on all tax payments from the original due date to the date the payment is made.

Please click here for NYC Department of Finance Memorandum 20-2.

HAVE A QUESTION?

Please complete this form to hear from one of our seasoned tax professionals

 

Hide Firm Disclaimer

©2021 UHY LLP. ALL RIGHTS RESERVED.

UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of "UHY Advisors." UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. "UHY" is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

On this website, (i) the term "our firm", "we" and terms of similar import, denote the alternative practice structure conducted by UHY LLP and UHY Advisors, Inc. and its subsidiary entities, and (ii) the term "UHYI" denotes the UHY international network, in each case as more fully described in the preceding paragraph.