The Philadelphia Department of Revenue recognizes that the extraordinary measures necessary to keep Philadelphians safe are having a profound impact on many residents and businesses.  To offer relief, Mayor Kenney and Revenue Commissioner Frank Breslin announced that the Department is changing the following:

• The due date for 2020 Real Estate Taxes has been extended 30 days. The new due date for real estate taxes is now April 30, 2020.
• The Department of Revenue will honor the federal extensions granted to businesses from the IRS for filing and payments until July 15, 2020 for the Business Income and Receipts Tax and the Net Profits Tax. This policy includes estimated payments.

No action is required from businesses to take advantage of this extension policy in Philadelphia.

Click the link below for additional information:
https://www.phila.gov/2020-03-23-city-of-philadelphia-extends-property-business-tax-deadlines/

HBK will continue to follow developments and provide guidance and clarity surrounding COVID-19 business issues. To discuss COVID-19’s effect on your business, contact your HBK advisor.