TEI Requests Guidance from States Regarding Penalty Relief for State Corporate Tax Returns Filed by November 15, 2021

On September 22, 2021, TEI submitted an open letter to states that have not amended their corporate return due dates to November 15. The letter requests that such state automatically waive penalties for failure to file corporate tax returns due on October 15, 2021 if the taxpayer files such returns no later than November 15, 2021.

TEI's letter noted that late filing is preferable given the move of the federal filing deadline to October 15, and the fact that the state had not provided at least 30 days between the federal and state deadlines. TEI maintained that waiving penalties for a late-filed returns would enable taxpayers to avoid filing state corporate returns with errors and subsequent amended returns to correct such errors. A similar penalty relief request was filed by the Council on State Taxation.

Download the letters