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Revenue Department Releases Fiscal Year 2020-21 Collections


Revenue Department Releases Fiscal Year 2020-21 Collections
07/01/2021
Harrisburg, PA Pennsylvania ended the 2020-21 fiscal year with $40.4 billion in General Fund collections, Revenue Secretary Dan Hassell reported today. That total is $3.4 billion, or 9.3 percent, above estimate.
Final revenue collections were stronger than expected in nearly every tax type. This has been a trend in recent months as Pennsylvania s economy has rebounded from the impact of the COVID-19 pandemic.
Fortunately, we are in a much different situation than we encountered a year ago at this time, said Secretary Hassell, noting the commonwealth ended the 2019-20 fiscal year with revenue collections that were $3.2 billion, or 9.1 percent, below estimate. This fiscal year closed with the largest surplus in the commonwealth s history. As part of that, more than $2.5 billion will be moved to the Rainy Day Fund, which will help Pennsylvania to weather a future economic downturn. ....

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IRS extended tax-filing deadline, but local taxes due April 15


The heat is off for preparing your Pennsylvania state tax return for another month as well. The Pennsylvania Department of Revenue also has extended its deadline until May 17.
This is a positive step that provides additional time to Pennsylvania taxpayers, many of whom have been struggling during the last year due to the pandemic, Pennsylvania Revenue Secretary Dan Hassell said.
But before you set those W-2 forms and bank records aside for a few more weeks, there are a couple of exceptions to the good news on the procrastination front.
First, estimated tax payments that are due on April 15 are still due on April 15, the IRS reports. ....

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