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.
In November 2015, TEI issued five state and local tax policy statements: (1) Reporting Federal Income Tax Changes, (2) Audit Procedures, (3) Corporate Tax Return Due Dates, (4) State and Local-Imposed Audit Fees, and (5) Interest Rates. TEI's policy statements reflect TEI's position on important state and local administrative and procedural issues. They are intended to enable TEI to respond quickly to issues as they arise across the country and to facilitate advocacy by providing formal position papers TEI's members can use when communicating with taxing agencies.