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Coronavirus Tax Coverage

The Tax Policy Center reported that because of COVID-19 disruptions, total state tax revenue shortfalls for all 50 states will be $75 billion and $125 billion in fiscal 2020 and fiscal 2021, respectively, with drops in personal income tax, general sales tax, and corporate income tax leading the decline.
The Pennsylvania Department of Revenue has reminded taxpayers that the due date for personal income tax returns is July 15, 2020, and encouraged taxpayers who need assistance to contact the department by telephone or online; the original deadline of April 15 was extended because of COVID-19, and the extension applies to final 2019 tax returns and payments and estimated payments for first- and second-quarter 2020.
The Vermont Department of Taxes implemented an emergency rule in response to COVID-19 to establish procedures for handling taxpayer appeals during the pandemic; hearings may be held by telephone or videoconference, and any documents submitted as evidence in a hearing that must be signed by one or both parties may be electronically signed.
The Oregon Department of Revenue reminded taxpayers that July 15, 2020, is the deadline to file and pay income taxes for individual and corporate taxpayers because of COVID-19; interest and penalties will not begin accruing until July 16, 2020.
The Pennsylvania Department of Revenue has announced that general fund collections for fiscal 2020 were $32.3 billion, which is $3.2 billion, or 9.1 percent, below estimate; for the month of June, general fund revenue was 17.8 percent below forecast, which is attributable to the extension of various tax due dates in response to COVID-19, as well as reduced economic activity during the pandemic.
Bills that would provide business tax breaks and waive penalties and interest on late tax payments and return filings for taxpayers affected by COVID-19 have passed the Louisiana Legislature and await action from Gov. John Bel Edwards (D).