The covid-19 insights on the tax impact

The covid-19 is going to continue to have the range of the economic business and the social impact. There are certain updates related to the test and development alongside developing the insights related to the impact of covid-19 on several businesses.

The question is whether or not the board of equalization is going to extend the April 10th, 2020 property tax payment deadline?

First of all, it’s worth noting that the issuing of property tax bills and collection of the payment. It is never a function of the board of equalization. You will always be meeting to contact the local country tax collector’s office. Whenever the property is located, the country tax collector will have the professions in place or other norms on the feature. It will be good enough to assist you with the payment of the property tax bill due to the challenging time. It’s good to note that the country tax collectors do not have any kind of cooperative for extension of date in 10th 2020 due date.

Now the second question is-“can the California State control the extent of the April 10th, 2020 property tax payment deadline?”

No, there is never any norm regarding the state controller that had got issued at the press release on March 20, 2020, regarding the California property taxes. Every country tax collector has the power to waive the penalties and interest for the late payments that will be beyond the taxpayer’s control. The California Association of the country’s precious as well as the tax collectors is also issuing the statement that will be addressing how the payments can be made in case the office is closed to the public.

The tax collectors are also developing the authority for handling the specific scenario where the taxpayer cannot be physically present for paying the taxes on April of 10th due to the illness or any such issues. Now the new norms are also coming in this field, and so it is getting updated. The schedule is between 8 and 90 days, right after the original tax. That said, there is a written notice of the postponement that gets certified mail to all the parties of the interesting notice of the postponement.

According to the estimates of April 1, 2020, the relief has been granted for the California income tax filing at the federal level as well. There were also certain payment obligations. However, all of this cannot be said for the local property tax obligations for the avoidance of the penalties. The next payment deadline for California property taxes remained around April 10th, 2020. It’s worth noting that the property tax payment deadlines gets hit by California State Law and do not find an extension by the board of equalization of the local country assessor offices. When the property tax payment wasn’t made timely, the late payment penalty was going to equal to 10% of the amount due to the immediate application.

In case the payment was not made by June 30, then there would be around 1.5 % of the increase of the charge. It’s worth noting that the assessor’s office has always encouraged alternate means of payment. It’s worth considering that the payment deadline has not been extended, but there may be possibilities for the avoidance of actually having to pay the late payment penalty by considering filing the penalty waiver request. The California property tax assessment suggests California Association of country Treasures and tax collector’s office stated that the tax collectors would have the authority to handle the specific scenario for the taxpayer cannot physically pay the taxes on April 10th.

Final words

Irrespective of the guidelines back then, the norms have changed this time to a huge extent. So, stay updated about the latest norms.