April 2, 2020
COVID-19 Government Relations Daily Summary
STATE AND LOCAL UPDATES
Illinois Department of Revenue
Additional Estimated Payment Option
Today, the IDOR announced an additional option for estimated payments that are due on April 15th. ICPAS has been in extensive conversations with the department for estimated payment simplification. The department was upfront that estimated payment filings for first and second quarter would not be extended due to the state’s acute financial situation and expenditures in responding to COVID-19. While we recognize some may not find this relief as a perfect resolution, today’s announcement provides simplification for payment calculation and compliance. Please review IDOR Informational Bulletin 2020-26.
Partnership Payment Deadline
IDOR has also responded to ICPAS inquiries on the extension of partnership filings. Due to the March federal filing deadline, IDOR has determined that the state partnership filing deadline remains April 15th.
State Sales Tax Exemption Renewals Extended
The Illinois Department of Revenue issued Informational Bulletin 2020-25 announcing the extension of the E-number expiration date by 90 days for impacted organizations and individuals. Due to staffing issues related to COVID-19, IDOR is unable to process most renewal applications for Illinois Sales Tax exemption (“E”) numbers at this time.
Illinois Department of Employment Security
COVID-19 and Unemployment Insurance Eligibility
The Illinois Department of Employment Security (IDES) has adopted emergency amendments to the administrative code entitled Claimant’s Availability for Work, Ability to Work and Active Search for Work (56 IAC 2865) effective March 13, 2020 for a maximum of 150 days. These rules allow persons who have been laid off due to the COVID-19 pandemic to apply for unemployment benefits. Criteria for being deemed able to work and available for work have been expanded to include circumstances in which the claimant is limited to working from home due to COVID-19 related closures and restrictions. See IDES.
General Assembly Report Shows Potential Virus Impact on Illinois Tax Revenue
Bi-Partisan General Assembly Commission issues 3-Year Budget Forecast
The Illinois General Assembly’s Commission on Government Forecasting and Accountability (COGFA), issued its 3-Year Budget Forecast FY 2021-FY 2023 with projections on declining revenues. COGFA concluded Illinois’ General operating revenues could fall between almost $2 billion and more than $8 billion over several years, depending on the severity of the virus-triggered recession. Before the crisis, COGFA had estimated the General Funds revenue would total $40.6 billion in FY 2021, which begins on July 1, 2020.
Cook County Department of Revenue
Cook County Department of Revenue has created a centralized website of information of taxpayer relief in multiple areas.
City of Chicago
Small Business Resiliency Fund
The City of Chicago has established a $100 million Chicago Small Business Resiliency Fund which will help to provide small businesses with emergency cash flow during this immediate health crisis. You and or your clients can register for Business Education Workshop Webinars.
Coronavirus Aid, Relief and Economic Security Act (CARES Act)
Tax Provisions Analysis
On March 27, 2020, President Trump signed H.R. 748, the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) legislation that includes a number of tax provisions potentially impacting individuals and businesses. KPMG LLP has published an extensive preliminary analysis and observations about the tax provisions in the CARES Act. See KPMG CARES Act Report.
US DOL Issues Guidance on “Health Provider” and “Emergency Responder”
Exclusion of Employees from Emergency Sick Leave & Expanded FMLA Provisions
The U.S. Department of Labor recently updated its “Families First Coronavirus Response Act (Q & As) to address the Families First Coronavirus Response Act (FFCRA) provisions that allow employers of “health care providers’ and “emergency responders” to exclude these employees from FFCRA’s emergency sick leave and expanded FMLA provisions.
See ICPAS Government Relations Digital Library of COVID-19 Regulatory Updates.