There have been some concerns that if folks submitted an Equity waiver for which there is not enough grant funding they will be charged penalties and interest for missing the payment deadline that the waiver was meant to cover.
We are happy to report that this is NOT the case.
We communicated with the Auditor Controller Treasurer Tax Collector (TTC)’s office and they shared the following information:
“If an equity operator is on the list of applicants pending review for a tax waiver and their application is subsequently denied, they will be allowed 30 days from the date of the denial letter to pay the tax due without interest and penalty. After the 30 days, all interest and penalty will apply
However, please note that if they are going to apply for a Payment Plan (for past due tax for years 2018-2021), there will not be an extension to the deadline for putting the Payment Plan in place by May 31st, 2023. In order to qualify for the Payment Plan, they must be current for 2022 and 2023 (including filing/reporting for all periods and have paid all 2022 tax (including 2022 True Up) as well as 2023 Quarter 1 tax). Therefore, it may be necessary for an applicant to pay the tax due in less than 30 days after the date of the denial letter if they are seeking a Payment Plan for tax years 2018-2021 unpaid tax.”
So in the worst case scenario that not everyone who submitted a waiver will be funded, there is still an opportunity for those folks who don’t get funding to pay the taxes without the addition of penalties and interest as long as payment is made within the 30 day window provided from the letter.
We hope to have more details from MCD sooner than later on the status of the existing submissions and will share as soon as we have them.
We are also happy to report that both MCD staff and the TTC responded very quickly to these concerns. The willingness to engage is a significant and welcome shift from the previous administration.