Tax Notes logo

Click here to see operators for terms and connectors searching.

Coronavirus Tax Coverage

The New Jersey Department of the Treasury announced that a report allowing the state to issue tax-exempt and nonexempt general obligation bonds of up to $4.5 billion to offset revenue losses caused by COVID-19 has been sent to the Select Commission for final approval; the bonds may be sold through the Federal Reserve or public markets.
The Massachusetts Department of Revenue issued its newsletter for September, reminding taxpayers that in response to COVID-19, the deadline for room occupancy excise tax and sales and use tax returns and payments originally due between March 20, 2020, and April 30, 2021, was extended to May 20, 2021, for qualifying operators and vendors; and announcing that the expiration date for cigar and cigarette licenses has been extended from September 30 to October 31.
The Oregon Department of Revenue announced that the Internal Revenue Service will send letters to over 130,000 individuals in the state to encourage recipients to use the IRS’s online tool for non-filers to check if they are eligible to claim an economic impact payment made available through the federal Coronavirus Aid, Relief, and Economic Security Act before October 15, 2020.
The IRS has announced (Announcement 2020-12) that lenders need not file information returns or furnish payee statements under section 6050P to report the amount of qualifying forgiveness regarding covered loans made under the Paycheck Protection Program.