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ID H0092

Bill

Official Source

Status

Introduced

1/30/2025

Primary Sponsor

Revenue and Taxation Committee

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Removes the requirement to pay 80% of taxes owed by the original due date to qualify for an automatic 6-month filing extension; taxpayers can now obtain extensions without any advance payment
  • Extends the automatic filing extension for military personnel residing outside the United States and Puerto Rico from 6 months to 12 months after the close of their taxable year
  • Reduces the late payment penalty from 2% to 1% per month when taxes are paid after the original due date but before the extended due date
  • Establishes that no penalty will be assessed if the remaining balance due is $50 or less after payments made by the unextended due date, or if reasonable cause is established
  • Takes effect January 1, 2026

Legislative Description

Amends existing law to revise provisions regarding the extension of time for certain filing deadlines.

TAXATION

Last Action

U.C. to be returned to Revenue & Taxation Committee

2/28/2025

Committee Referrals

Revenue and Taxation1/31/2025

Full Bill Text

No bill text available