In response to conditions caused by the COVID-19 pandemic, the NH Department of Revenue Administration granted automatic relief to qualifying Business Profits Tax (BPT), Business Enterprise Tax (BET) and Interest & Dividends Tax (I&D) taxpayers in March, extending the deadline to remit payment by two months, from April 15 to June 15, 2020.
Ahead of the upcoming deadline, NHDRA is sharing a comprehensive list of tips for taxpayers to help reduce the likelihood of processing delays during a particularly busy filing period.
Filing Tips for Business and I&D Taxpayers
Confirm Form is Current
Taxpayers have often downloaded a previous year’s version and have forgotten to update to the current year’s version the following year. NHDRA updates its tax return forms annually to reflect any tax law, tax rate, or other changes. Ensure the correct tax year form is used and that all pages are present. Visit NHDRA’s Forms Page online to find the correct version of all forms. To access forms and instructions by tax type, visit revenue.nh.gov/forms.
Channel Your Inner Mathematician
A simple miscalculation could result in delayed processing and the issuance of assessments, penalties, and interest. Double-checking the math on a return will better equip taxpayers for avoiding an easily preventable mistake.
Consistency with “Primary Taxpayer”
Married taxpayers filing a joint Interest & Dividends (I&D) Tax return should ensure the same taxpayer is listed first on the return each year. Changing the order of the names listed could result in delayed processing.
Don’t Forget Attachments & Schedules
Most of NHDRA’s business tax and I&D tax return forms require additional attachments to be submitted with the return. Carefully read the form instructions to determine which additional attachments and schedules must accompany a return in order for the return to be considered complete.
Electronic or Paper, Not Both
Business tax and I&D tax returns can be filed through NHDRA’s Modernized e-File (MeF) system. When a return is submitted electronically, there is no need to mail a paper copy to NHDRA. Submitting both may slow the process. Visit NHDRA’s e-File Page to learn more about how to electronically file a New Hampshire tax return.
Include Payment with the Return
If tax, penalties, or interest is owed, ensure payment accompanies the return to avoid the assessment of additional interest and penalties. Payments can be made by credit card or directly from a checking account. NHDRA is able to accept most major cards, including debit cards, credit cards, and some types of crypto cards. If the amount owed is not paid electronically, ensure a check accompanied by a payment coupon is mailed to NHDRA.
The Final Step
Surprisingly, NHDRA sends back hundreds of returns during filing season for missing signatures. Taxpayers should make note of the important last step of signing the return before submitting it.
Waiver of Interest & Penalties
The waiver of interest and penalties is being applied automatically for taxpayers filing under the COVID-19 deadline extension, so they should not receive a tax notice assessing interest and penalties for filing by June 15. However, if a taxpayer does receive a tax notice that is believed to be in error, the taxpayer should call NHDRA.
“We understand taxpayers face a number of challenges during this period of uncertainty, which is why we have provided relief to protect taxpayers from penalties and interest they may have otherwise faced,” said NHDRA Commissioner Lindsey Stepp. “We encourage taxpayers to consider these tips as they prepare to file to help ensure accuracy and completeness, which will reduce the likelihood of processing delays. We are all-hands-on-deck during this time to support Granite Staters. Any taxpayer with questions is advised to contact the Department through our Taxpayer Services Division.”
The relief was made available for certain BPT, BET, and I&D taxpayers who were unable to pay the amount due on April 15. Those qualifying taxpayers were given until June 15 to remit payment without typical penalties and interest. NHDRA extended the due date, in addition to expanding the qualifications for the automatic extension and the estimated payment safe harbor.
Taxpayers who qualified for this specific relief are Business Tax taxpayers who owed $50,000 or less in taxes (total BPT and BET tax liability) for the tax year 2018 and I&D taxpayers who owed $10,000 or less in taxes for the tax year 2018. These thresholds account for 98 percent of all BPT, BET, and I&D taxpayers.
For an overview of the automatic relief program for BPT, BET, and I&D taxpayers, visit www.revenue.nh.gov/publications/press/documents/dra-covid-nineteen-tax-relief.pdf.
NHDRA’s Taxpayer Services Division is available to answer all filing questions. Contact the Taxpayer Services Division by phone at (603) 230-5000 (select option 2), Monday through Friday, 8 am to 4:30 pm.
For taxpayer resources online, visit revenue.nh.gov/assistance.
Current Issue - April 2024