MI SB0888

Adds subsection (8) to section 24 to waive all interest and penalties for 2019 tax year returns originally due April 15 or April 30, 2020, if filed or remitted by July 15 or July 31, 2020, respectively.

Automatically extends Michigan tax filing deadlines to match any Internal Revenue Service extensions for the same tax year due to declared national emergency, with automatic waiver of penalties and interest during the extended period.

Adds subsection (8) to section 30 to modify interest calculations for 2019 tax year refunds, beginning interest accrual 45 days after the latest of: claim filing, July 15/31, 2020, or any subsequent IRS-extended due date.

Eliminates additional interest provisions under subsections (4) and (5) for 2019 tax year returns, allowing only the standard subsection (3) interest rate on refunds.

Bill is contingent on enactment of Senate Bills 887 and 889 in the 100th Legislature.