By Payroll and Entitlements Editorial Staff
The IRS has granted tax relief to the victims of Hurricane Laura in Louisiana that began August 22, 2020. Accordingly, the IRS has offered relief to the disaster areas of Allen, Beauregard, Calcasieu, Cameron, Jefferson Davis and Vernon parishes in Louisiana. The affected taxpayers will now have until December 31, 2020, to file various individual and business tax returns and make tax payments.
Filing and payment deadlines extended. The IRS has postponed various tax filing and payment deadlines that occurred starting on August 22, 2020. As a result, the affected taxpayers will now have until December 31, to file returns and pay any taxes that were originally due during this period. This also includes individuals who had a valid extension to file their 2019 return due to run out on October 15. In addition, businesses with extensions also have additional time including, among others, calendar-year corporations whose 2019 extensions run out on October 15. However, the IRS noted that since tax payments related to 2019 returns were due on July 15, those payments would not be eligible for this relief. The December 31 deadline also applies to estimated tax payments due on September 15, and the quarterly payroll and excise tax returns normally due on November 2. This deadline also applies to tax-exempt organizations, operating on a calendar-year basis, that had a valid extension due to run out on November 16. Moreover, penalties on payroll and excise tax deposits due after August 22 and before September 8 will be abated as long as the deposits were made by September 8, 2020.
The affected taxpayers do not need to contact the IRS to get this relief. The IRS will work with taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227.
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