Massachusetts Announces State Income Tax Filing Deadline Being Extended to July 15
BOSTON – Governor Charlie Baker, Lt. Governor Karyn Polito, Senate President Karen Spilka and House Speaker Robert DeLeo today announced an agreement to extend the 2019 state individual income tax filing and payment deadline from April 15 to July 15 due to the ongoing COVID-19 outbreak. This income tax relief is automatic and taxpayers do not need to file any additional forms to qualify.
“Massachusetts will move the state personal income tax filing and payment deadline to July 15, consistent with the federal government, in order to provide additional flexibility to filers during this crisis,” said Governor Charlie Baker. “In partnership with our colleagues in the Legislature, we are committed to providing this flexibility to taxpayers in a way that protects the Commonwealth’s strong fiscal footing that we have all worked hard to develop over the past several years.”
“We are proud to work with the Legislature to provide meaningful relief to people throughout the Commonwealth during this public health emergency,” said Lt. Governor Karyn Polito. “This extension will afford taxpayers additional time to file their Massachusetts individual income tax returns as we carry out the historic response to the COVID-19 outbreak.”
“The top priority during this public health crisis is to address the immediate needs facing our residents,” said Senate President Karen E. Spilka. “Our message is clear: residents should stay home and avoid social contact to be safe. Extending the tax deadline helps us accomplish that goal and provides peace of mind. I want to thank Chair Rodrigues, as well as our partners in the House and the Administration for their continued collaboration in confronting the challenges facing our Commonwealth.”
“The House, in partnership with the Senate and the Administration, agreed to an extension of the state tax filing deadline to ease the burden on individuals while agreeing to borrowing measures that would protect the Commonwealth’s revenue stream,” said House Speaker Robert A. DeLeo. “Thank you to Chair Michlewitz for his leadership in ensuring the Commonwealth’s fiscal viability while providing tax relief to those unduly effected by this crisis.”
Today’s announcement will move the state income tax filing deadline to match the July 15 deadline for filing federal individual income taxes. Legislation will be filed in the near future to finance the extension, and accompanying administrative changes will be implemented through the Department of Revenue. Specifically, the legislation will authorize the Commonwealth borrowing flexibility to manage deferred revenue this fiscal year and repay it in the next fiscal year, which starts July 1, 2020.
Individuals with questions or concerns regarding taxes can contact the Massachusetts Department of Revenue at (617) 887-6367 or send a secure e-message through MassTaxConnect.
For small businesses with an existing banking relationship with SBA Express lenders as of the date of the disaster
Massachusetts District Office – March 2020
HERE TO HELP SMALL BUSINESSES
Dear Small Business, Friends and Partners,
In response to the COVID-19 National Emergency, the SBA Express Bridge Loan (EBL) Pilot Program has been modified and the term extended. The EBL Pilot Program is designed to supplement the Agency’s direct disaster loan capabilities and authorizes SBA Express Lenders to provide expedited SBA-guaranteed bridge loan financing on an emergency basis in amounts up to $25,000 for disaster-related purposes to small businesses located in communities affected by Presidentially-declared disasters while those small businesses apply for and await long-term financing (including through SBA’s direct Economic Injury Disaster Loan Program, if eligible).
The general eligibility requirements for the EBL are as follows:
For small businesses with an existing banking relationship with SBA Express lenders as of the date of the disaster. Check Lender List
Effective March 25, 2020, (announcement by publication of a notice in the Federal Register will follow), SBA expanded program eligibility to include small businesses nationwide adversely impacted under the Coronavirus Disease (COVID-19) Emergency Declaration issued by President Trump on March 13, 2020 (“COVID-19 Emergency Declaration”).
EBL loans can only be made by SBA Express Lenders that had a valid Supplemental Loan Guaranty Agreement SBA Express Program in effect as of the date of the applicable disaster;
EBL loans can only be made up to six months after the date of an applicable Presidential Disaster Declaration, however for the COVID-19 Emergency Declaration, EBL loans can be approved through March 13, 2021.
The Lender must have an existing banking relationship with the EBL applicant as of the date of the applicable disaster in order to help mitigate the risks associated with the streamlined underwriting process under the EBL Pilot Program.
The small business must have been operational when the declared disaster commenced and must meet all other 7(a) loan eligibility requirements (credit elsewhere, size, etc.);
All EBL applications will begin with a screening for a FICO Small Business Scoring Service Score (SBSS Score) – The minimum acceptable SBSS Score for an EBL loan applicant is 130
Lender must obtain a personal credit score for each guarantor. The personal credit score(s) must be satisfactory under the Lender’s standards for its similarly-sized, non-SBA guaranteed commercial loans.
The EBL loan must be structured as term loans not to exceed 7 years (revolving lines of credit are not permitted).
The EBL Pilot Program follows the SBA Express interest rate policy, and SBA guaranty percentage is limited to the maximum guaranty percentage of 50% for SBA Express loans.
EBL loans cannot be sold in SBA’s secondary market, they’re subject to the same upfront guaranty fees required for 7(a) loans of similar size and maturity
Because the maximum amount of an EBL loan is $25,000, SBA Express Lenders are not required to take collateral for EBL loans
Lenders may charge an EBL applicant an application fee of 2 % of the loan amount or $250,whichever is greater.
Prior to any disbursement of EBL loan proceeds, Lender must submit a signed IRS Form 4506-T to the Internal Revenue Service (IRS) and obtain an IRS tax transcript for the EBL applicant business for the purpose of verifying the existence of the business as of the date the applicable disaster commenced and confirming that the EBL applicant has filed required tax returns
For more information on the EBL Program and eligibility requirements, please review the Express Bridge Loan Pilot Program Guide and feel free to contact our lender relations team with any questions.
Ili Spahiu Assistant District Director for Lender Relations Massachusetts District Office U.S. Small Business Administration Office: (617) 565-5569
Cell: (617) 763-8833
Fax: (202) 481-0680 email@example.com
CWE is doing a SURVEY to understand our local small businesses.
Please FILL OUT THE SURVEYand let them know how your business is being impacted by the current pandemic. Share what issues you are facing, questions you are having and resources you need.
CWE will mobilize the network of small business expert friends to help you address specific challenges you may be having in your business in the coming weeks.
Funding & Financials
In times like these, it can feel scary to think about money flow. There is very little ‘free money’ available. Taking on low-interest debt through Disaster Relief programs can be a good fit for some businesses. Before making any decisions, make sure to think through your decision.
Some questions that can guide you:
Do you know how much it costs you to stay open? Your breakeven point is a great tool to guide your decisions.
How much money do you actually need in the immediate (week), intermediate (1-3 months), long-term (<1 year) for yourself from your business?
Where are there opportunities for you to negotiate around your expenses? How can you work with your vendors, landlord, customers?
Have you called your insurance company to inquire about your ‘interruptions’ coverage?
Where can you get creative and work ‘bare bones’ while still delivering to your standards of quality?
If you decide debt is an option for you:
What source is best for you? Have you talked with your banker to see what might be available to you?
If you can’t qualify for a loan through a traditional bank, there may be programs available to you in the coming weeks. How can you be best prepared for this type of program?
What’s your plan for paying the loan back?
What’s the minimum amount you can borrow to get you through these times without causing future challenges to your business when you have to repay?
Counseling Sessions with BOSTON SCORE CHAPTER:
If you want to speak with a counselor, SCORE is doing tele-consults. Just pick a date and time to schedule a session and enter your contact info, they are doing sessions by phone and Zoom video app.
Reach out to other SCORE CHAPTERS throughout the state below.
NOVEL CORONAVIRUS (COVID-19) TESTING AVAILABLE TO THE NORTH ANDOVER COMMUNITY ON FRIDAY, MARCH 27th AT AFC URGENT CARE, 129 TURNPIKE STREET IN NORTH ANDOVER. AVAILABLE FOR ALL HEALTH INSURANCES TO INCLUDE MASSHEALTH AND MEDICARE. MUST BE SCREENED IN ADVANCE AND RECEIVE DOCTOR’S NOTE FROM AFC URGENT CARE. CALL FOR DETAILS OR SCREENING AT 781.430.8161.
On Friday, March 27, 2020 AFC Urgent Care in North Andover, MA (located at 129 Turnpike Street in North Andover) will hold a COVID-19 drive through testing clinic from 9am to 5pm for members and residents of North Andover and the surrounding communities who qualify for the novel coronavirus testing.
In order to qualify for testing, patients will need to be pre-screened by an AFC provider on Wednesday, March 25th and Thursday, March 26th via a telemedicine urgent care visit. Upon completion of the telehealth screening and determination of qualification for testing, AFC Urgent Care will send a personalized doctor’s order to that specific patient in order to be tested on Friday, March 27th. PLEASE NOTE: If a prospective patient does not bring an AFC doctor’s note to the drive through testing clinic, that patient will not be eligible for testing on Friday, March 27th.
If interested in a screening and to be eligible for an AFC Urgent Care doctors note in order to be tested for the novel coronavirus (COVID-19) on Friday, March 27th in North Andover, please call AFC Urgent Care between 8am and 8pm on Wednesday, March 25th or Thursday, March 26th at 781.430.8161.
The COVID-19 virus has had extraordinary effects on our personal lives, communities and throughout the world and we write to provide an update on The Salvation Army’s work in response to this pandemic. Through our Emergency Disaster Services (EDS) and Social Services Departments, our Salvation Army Corps (churches) have been providing critical resources to individuals, families and children impacted by this crisis. Based on the latest guidelines received from the CDC (Centers for Disease Control) we quickly modified our distribution models to continue to provide essential food resources, but with pre-packaged, non-congregate meals and food bags.
As needs continue to increase in many areas, the Corps have increased their volume of distribution, and EDS has begun the coordination of disaster food boxes both to Corps and our partner agencies. Each of these boxes provides 35 meals of shelf stable food which not only provides families with larger meal resources but limits the need for daily or regular contact.
As of today, we have distributed over 28,000 meals throughour food boxes and other critical care needs. Below is a breakdown of our current Feeding Stats in response to this COVID-19 pandemic.
3,314 –Pre-packaged individual meals distributed by the Corps
5,746 – Food Bags (10 meals per bag) distributed by the Corps
The Salvation Army has established 6 ‘hubs’ in key areas in Massachusetts to assemble food boxes to support increased Corps needs. The Corps currently involved are Pittsfield, Springfield, Fitchburg, Lowell, Lynn, and the Children’s Learning Center (CLC) in Dorchester–which has been repurposed with the closing of day care programs. EDS has opened a ‘disaster account’ with the Greater Boston Food Bank to provide increased resources, while we are also working with all our food vendors including food banks and other agencies.
Chris Farrand, our EDS Director, has been on site daily at the Massachusetts Emergency Management Agency (MEMA) at the request of the state, as part of the Mass Care/Feeding Task Force. The Task Force is directly coordinating with the Department of Education, Executive Office of Elder Affairs, Family Resource Centers, and local Emergency Managers to determine gap needs and how to meet them. In addition, we are utilizing our mobile disaster response canteens to help with distribution and support to those who are unable to pick-up food boxes at the Corps.
I should also mention that even though Governor Baker has issued a ‘stay at home’ mandate for Massachusetts The Salvation Army continues to provide spiritual and emotional care virtually to those who feel isolated, who are struggling and want to connect, with messages of encouragement, worship services and other updates through our websites and social media platforms. This emotional and spiritual support is in addition to the feeding programs we continue to offer daily.
As we continue to our efforts of meeting the needs of our communities, we need your support more than ever. If you want to donate, please click here to donate designating it to The Salvation Army Massachusetts Division general operation. In addition, we just launched a triple match appeal, where a generous friend of The Salvation Army offers to match donations 3 to 1 at this time – up to $100,000. Click here to learn more about this triple match.