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Breaking News: Tax Update & Potential

By NYC Hospitality Alliance

During a press conference, NYC Mayor de Blasio stated that all businesses should file their taxes on time as normal

BUSINESS TAXES
 
During a press conference, NYC Mayor de Blasio stated that all businesses should file their taxes on time as normal. If a business has a hardship they should apply for an extension. If the business can prove that it has been disrupted, the City will waive any penalties the business may otherwise incur. The Mayor reiterated, all businesses should file their taxes to the maximum extent possible and indicate, specifically, with proof if there is a hardship. He further said this crisis puts a clear light on the City of New York not having unlimited resources and there is a lot we need to cover, and that we need the Federal government to play a much bigger role.
 
SHELTER IN PLACE ORDER
 
The Mayor also stated that New Yorkers should be prepared for a possible "Shelter in Place" order, and a decision would likely be made within the next 48 hours.  A similar order is in effect in the San Francisco Bay Area and requires residents to remain indoors except for essential travel, like getting food. If this order takes effect in NYC, and when exact details are released, we will share them.
 
The NYC Hospitality Alliance will bring you updates on both matters as more information becomes available.

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