Read Manning Fulton’s Response to the Coronavirus (COVID-19).

Durham

Diamond View II, Suite 130, 280 South Mangum Street, Durham, NC 27701

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Raleigh

3605 Glenwood Avenue, Suite 500, Raleigh, NC 27612

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The North Carolina Department of Revenue (NCDOR) announced on March 21, 2020 that it will extend the April 15 tax filing deadline to July 15 for individual, corporate, and franchise taxes, to mirror the announced deadline change from the Internal Revenue Service.

“Taxpayers need relief during this difficult time and my administration is bringing it,” Governor Roy Cooper said. “I will work with both Republicans and Democrats in the state legislature to provide additional help.”

In addition to the filing extension, the NCDOR will not charge penalties for those filing and paying their taxes after April 15, as long as they file and pay their tax before the updated July 15 deadline.

However, the department will not offer relief from interest charged to filings after April 15. Unless state law is changed, tax payments received after April 15 will be charged accruing interest over the period from April 15 until the date of payment.

These changes do not apply to trust taxes, such as sales and use or withholding taxes.

According to the NCDOR website, the Department will issue official notification once the IRS publishes its guidance, which has not happened at this time.

We expect the federal and state response to COVID-19 will intersect with your individual and business tax situations, including certain tax relief measures and the tax consequences of other stimulus packages. We are monitoring both federal and state bills and administrative guidance and will do our best to keep you informed during these trying times.

Meanwhile, if you have questions about these guidelines or other tax issues, please contact Sandra Martin Clark or your Manning Fulton relationship attorney.

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