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IRS provides tax filing relief for victims of Hurricane Laura

published in McAfee & Taft ERISALINC | September 4, 2020

The IRS recently announced that victims of Hurricane Laura now have until December 31, 2020, to file various individual and business tax returns. This relief is available to any area designated by the Federal Emergency Management Agency (FEMA) as an area qualifying for individual assistance. A current list of designated areas is available on the disaster relief page on FEMA.gov and IRS.gov.

Pursuant to this relief, individuals and businesses who have a valid extension to file their 2019 income tax returns on October 15, 2020, will now have until December 31, 2020 to file. However, this relief does not extend the payment deadline for the federal tax payments related to these 2019 returns, which were due on July 15, 2020.

The December 31, 2020, deadline also applies to quarterly estimated income tax payments due on September 15, 2020, and the quarterly payroll and excise tax returns due on November 2, 2020.  Additionally, any penalties on payroll and excise tax deposits due after August 22, 2020 and before September 8, 2020, will be abated as long as the deposits are made by September 8, 2020.

The IRS will automatically provide this filing and penalty relief to taxpayers with an IRS address of record located in the disaster area. If an affected taxpayer receives a late filing or late payment penalty notice from the IRS, the taxpayer should call the number on the notice to discuss having the penalty abated.

Visit the IRS disaster relief page for additional information:

https://www.irs.gov/businesses/small-businesses-self-employed/disaster-assistance-and-emergency-relief-for-individuals-and-businesses