Under section 7508A, the IRS gives affected taxpayers until July 31, 2023, to file most tax returns (including individual, corporate, and estate and trust income tax returns partnership returns, S corporation returns, and trust returns estate, gift, and generation-skipping transfer tax returns annual information returns of tax-exempt organizations and employment and certain excise tax returns), that have either an original or extended due date occurring on or after March 31, 2023, and before July 31, 2023, are granted additional time to file through July 31, 2023.Īffected taxpayers that have an estimated income tax payment originally due on or after March 31, 2023, and before July 31, 2023, are postponed through July 31, 2023, will not be subject to penalties for failure to pay estimated tax installments as long as such payments are paid on or before July 31, 2023. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. § 301.7508A-1(d)(1), and include individuals who live, and businesses (including tax-exempt organizations) whose principal place of business is located, in the covered disaster area. Taxpayers considered to be affected taxpayers eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts are those taxpayers listed in Treas. §301.7508A-1(d)(2) and are entitled to the relief detailed below. The localities listed above constitute a covered disaster area for purposes of Treas. But affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 86 to request this tax relief. The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief. For details about this and other electronic options, visit IRS.gov/Extensions. This can be done for free using IRS Free File. ![]() ![]() The IRS encourages affected taxpayers to file for an extension electronically by April 18, 2023, if the taxpayer feels more time is needed to complete the tax return before the July 31, 2023, deadline. If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty. In addition, penalties on payroll and excise tax deposits due on or after March 31, 2023, and before April 18, 2023, will be abated as long as the tax deposits are made by April 18, 2023. The July 31, 2023, deadline also applies to any payment normally due during this period, including quarterly estimated tax payments, quarterly payroll and excise tax returns. Among other things, this means that eligible taxpayers will have until July 31 to make 2022 contributions to their IRAs and health savings accounts. This includes 2022 individual income tax returns due on April 18, as well as various 2022 business returns normally due on April 18. As a result, affected individuals and businesses will have until July 31 to file returns and pay any taxes that were originally due during this period. For instance, certain deadlines falling on or after March 31, 2023, and before July 31, 2023, are granted additional time to file through July 31, 2023. The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. ![]() WASHINGTON - Victims of severe storms, straight-line winds and tornadoes in Indiana from March 31 to April 1, 2023, now have until July 31, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.įollowing the disaster declaration issued by the Federal Emergency Management Agency, individuals and households affected by severe storms, straight-line winds and tornadoes that reside or have a business in Allen, Benton, Clinton, Grant, Howard, Johnson, Lake, Monroe, Morgan, Owen, Sullivan, and White counties qualify for tax relief.
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