As a result of legislation enacted in June, the Revenue Services Commissioner is directed to waive any late payment penalty and related interest imposed on pass-through entities in connection with their 2018 Pass-Through Entity Tax, so long as the full amount of the tax due – excluding penalty and interest - is paid within one year of the original due date of the return.
The Department of Revenue Services (DRS) will automatically process the waiver of penalty and interest. Pass-through entities are not required to submit any form or documentation to DRS to request the waiver.
DRS is in the process of mailing notices to 9,984 taxpayers in cases where penalty and/or interest was assessed against their 2018 period.
SAMPLE LETTER: DRS_PE Tax - PenInt_Aug2019.pdf
- Special Notice (SN) 2019(6): 2019 Legislative Changes Affecting the Pass-Through Entity Tax