In response to the ravaging effect COVID-19 is having on many Texas businesses, the Texas Comptroller issued an announcement earlier this week. The announcement provides that:
- Announcement Only Offers Assistance: The Comptroller is offering assistance (including short-term payment agreements and waivers of penalties and interest) for businesses struggling to pay the full amount of sales taxes collected in February 2020 (not any other period).
- Assistance Offered for February 2020: The offered assistance does not apply to any period other than February 2020.
- Offered Assistance is Not Automatic: The offered assistance (of any type) is not automatic. Rather the announcement invites struggling businesses to contact the Comptroller’s Enforcement Hotline at 800-252-8880 to learn about options.
Frank L. Leffingwell is a tax attorney in the firm’s Tax Planning & Controversy, Estate Planning, Probate & Trusts, and Real Estate sections.