Free COVID-19 Tax Report Helps Companies Understand State and Federal Issued Tax Relief
MCMINNVILLE, Ore., April 16, 2020 /PRNewswire/ -- TTR (The Tax Research Company) is a provider of everything sales and use tax. TTR is "farm to fork" – the only sales and use tax company that covers everything from "raw tax law" and tax rates to real-time tax calculation software. TTR works with state governments to ensure taxpayers have accurate tax rates and taxability rules. TTR's Geographical Interface System (GIS) software enables companies to get tax rates right to the exact latitude/longitude point. TTR's artificial intelligence enabled exemption certificate and tax automation software ensure that tax gets done right.
TTR's Free COVID-19 Tax Report
TTR released its free COVID-19 Tax Report in early March to help companies understand and stay on top of the tax impact of COVID-19. State and federal agencies are issuing notices to provide relief for individuals and companies impacted by COVID-19. Since March 1, 2020, over 250 COVID-19 related tax notices have been issued by state and federal government agencies. In many instances, government taxing agencies have extended filing and payment deadlines, and some have waived interest and penalties for late filing or payments.
TTR's free COVID-19 Tax Report is updated daily and available here: www.ttrus.com
Tax Report Details:
TTR's Daily COVID-19 Tax Report provides plain English explanations of tax relief notices. These are organized geographically. Here is an example:
April 13, 2020:
- (1) Alabama - allows taxpayers to defer state income tax payments due on or after April 1, 2020, and before July 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers including individuals, trusts, estates, corporations, and other non-corporate tax filers. Other taxes included in this deadline extension are corporate income tax, the financial institution excise tax (FIET), and the business privilege tax (BPT).
April 10, 2020:
- (1) United States - allows taxpayers who need additional time to file their income tax return beyond July 15, 2020, to request for an extension to October 15, 2020. While estimated payment deadlines were previously extended from April 15 to June 15, taxpayers are now allowed to wait until July 15, 2020, to make the payment without penalty. Additionally, for 2016 tax returns, the normal April 15 deadline to claim a refund has been extended to July 15, 2020.
About TTR:
TTR is a home for those that want to genuinely help others get tax right. We are not doctors, but we bring the same level of care to our clients and the public. Many of us previously worked in corporations, at state agencies, or for consulting firms. We remember the challenges that came with each day. We can't forget the vast amount of time we spent reading tax laws and not always feeling certain we had the right answer.
It is our goal to change all that. We have a simple objective: to improve the quality of people's lives by helping them get tax right. We won't stop until we accomplish this objective. We won't stop then either, because we also have to make certain that all of the "stuff" needed to get tax right – tax answers, explanations, rates, supporting documents, and software – is kept up to date in real-time.
Companies use and trust TTR to empower them to get tax right. In partnership with state governments, TTR delivers best in class tax solutions for transaction taxes, including sales, use, food, VAT, GST, excise, motor fuels, communications, lodging, and other indirect taxes. TTR is based in McMinnville, Oregon. Nearly 10,000 companies use and trust TTR to get tax right. More information at ttrus.com.
CONTACT: Jake Schmitt, [email protected]
SOURCE TTR
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