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(1/5) Now that @GovMurphy has extended tax filings to 7/15, some additional measures @NJTreasury can take to ensure public safety along with that of tax preparers ( @NJCPA) & state employees. Also position businesses for recovery:
(2/5) Limit personal contacting by waiving requirements to file hard copy, notarized, and/or signed documents. Waive requirements to mail documents by certified mail. Allow automated-clearing-house (ACH) electronic transfers of funds instead of requiring hard checks.
(3/5) Suspend accrual of interest on assessments during periods of mandated business closures. The sudden drop in interest rates and the volatility of the stock market has made continued assessment of interest on outstanding assessments unreasonable and essentially usurious.
(4/5) Direct @nj_taxation to review backlog of outstanding audits & resolve outstanding controversies. W/many businesses closed & their futures uncertain, this is not the time for outstanding audits to be held by administrators like a Sword of Damocles over struggling companies.
(5/5) Now is the time for government to work collaboratively with business leaders and @NJCPA to ensure that there's no uncertainty in the process & NJ's businesses emerge from COVID-19 with a clear path to recovery, not government roadblocks. @njchamber @NJBIA @CommerceNJ
