The hearts of the nation go out to families and businesses affected by the storm, tornado, mudslide and landslide occurrences earlier in April and May. The widespread destruction and loss of lives and properties have had serious impacts on residents of affected areas.
In an effort to assist, the Internal Revenue Service (IRS) has given individuals and businesses in the affected area till November 1 to file their tax returns (a relief measure aimed at helping victims of the disaster).
The deadline extension only covers federal taxes, and does not affect state tax filing dates.
What States are Extending Tax Deadlines?
According to the IRS, and the disaster declaration issued by the Federal Emergency Management Agency (FEMA), deadlines for tax filing have been extended for Arkansas, Iowa, Kentucky, Texas, and West Virginia.
Due to the flooding and severe storms that happened on May 20, residents of Adair, Montgomery, Polk, and Story counties in Iowa have been granted a tax deadline extension.
Residents of Baxter, Benton, Boone, Carroll, Fulton, Greene, Madison, Marion, Nevada, Randolph, and Sharp counties in Arkansas qualify for tax relief.
Taxpayers living in Boone, Brooke, Cabell, Fayette, Hancock, Kanawha, Lincoln, Marshall, Nicholas, Ohio, Preston, Putnam, Tyler, Wayne, and Wetzel counties of West Virginia qualify for tax relief.
Individuals and households in Austin, Bell, Bosque, Brown, Caldwell, Calhoun, Clay, Coleman, Collin, Concho, Cooke, Coryell, Dallas, Denton, Eastland, Ellis, Falls, Freestone, Grimes, Guadalupe, Hamilton, Hardin, Harris, Henderson, Hockley, Houston, Jasper, Jones, Kaufman, Lamar, Lampasas, Lee, Leon, Liberty, Limestone, Madison, Mills, Montague, Montgomery, Navarro, Newton, Polk, Smith, San Jacinto, San Saba, Smith, Terrell, Trinity, Tyler, Van Zandt, Walker, Waller, and Washington counties of Texas also qualify for tax relief.
Similarly, residents of Boyd, Carter, Fayette, Greenup, Henry, Jefferson, Jessamine, Mason, Oldham, Union, and Whitley counties in Kentucky have until November to file their tax returns.
This tax relief allows residents and business owners in these areas to finalize their 2023 tax returns and pay all taxes due.
Who does this Tax Deadline extension apply to?
This deadline applies to:
- Individuals in these areas whose tax returns were originally due on April 15, 2024.
- Taxpayers with quarterly estimated tax payment due on April 15, June 17, and Sept. 16, 2024.
- Taxpayers in Boone and Kanawha counties who already had an extension till June 17.
- Taxpayers with quarterly payroll and excise tax returns due on April 30, July 31 and Oct. 31, 2024.
The deadline extension also applies to:
- Calendar-year corporation and fiduciary returns and payments normally due on April 15, 2024
- Calendar-year tax-exempt organization returns normally due on May 15, 2024
If you live in these areas, you are automatically a beneficiary of this relief program; you do not need to apply, or contact the IRS for this.
The IRS recognizes the challenges of the people, especially those who reside in; or own businesses in regions regularly affected by weather disasters like hurricanes, wildfires and storms. For this reason, tax relief programs are made available to help residents . If you’re a taxpayer living in these regions, take note of the new deadlines and ensure all necessary documents are ready for tax returns.
