New York City—Multiple Taxes: Waiver of Penalties for Business and Excise Taxes Due Between April 26, 2020, and June 25, 2020

03 June 2020

The New York City Department of Finance (department) allows a waiver of penalties for the department-administered business and excise taxes due between April 26, 2020, and June 25, 2020 (previously, the waiver was granted for the taxes due between March 16, 2020, and April 25, 2020). The department, in a finance memorandum clarifies:

  • if taxpayers file a return or extension and pay any taxes owed as applicable by July 15, 2020, they will not be subject to any late filing, late payment, or underpayment penalties;
  • while late filing and late payment penalties are waived, interest (where applicable) will accrue at the appropriate underpayment rate on all tax payments received after the original due date, calculated from the original due date to the date of payment; and
  • taxpayers should make quarterly estimated payments by the June 15, 2020, deadline.

How to File Requests for Penalty Abatements?

Taxpayers may request to have the penalties waived (abated) in the following ways:

  • Taxpayers may use the department’s portal at www.nyc.gov/dofaccount to file an annual return or extension and request that any penalties be waived; taxpayers should enter the special condition code “CV” in the space indicated near the top of the online form.
  • Taxpayers can request a penalty abatement by sending an email to Penalty_Abatements@finance.nyc.gov. (Taxpayers subject to the commercial motor vehicle tax or the retail beer, wine, and liquor tax may also request an abatement by sending an email to Penalty_Abatements@finance.nyc.gov.)
  • If taxpayers are filing a paper return or extension request, they should write “COVID-19 ” on the top center of the front page. Taxpayers may also request an abatement by writing to: NYC Department of Finance, P.O. Box 5564, Binghamton, NY 13902-5564.

Finance Memorandum 20-5, New York City Department of Finance, May 22, 2020