By Pension and Benefits Editorial Staff
The IRS has announced tax relief for taxpayers who reside or have a business in the federal disaster areas of Adjuntas, Cabo Rojo, Corozal, Guánica, Guayanilla, Jayuya, Lajas, Lares, Maricao, Peñuelas, Ponce, San Germán, San Sebastián, Utuado, Villalba and Yauco municipalities in Puerto Rico, which were affected by earthquakes that began on December 28, 2019. The relief extends until April 30, 2020 deadlines for filing various returns, including the filing of Form 5500s, and paying taxes otherwise due during the period of December 28, 2019 and before April 30, 2020. This includes relief for individual income tax returns due on April 15, 2020.
For payroll and excise tax deposits due on or after December 28, 2019, the IRS will waive the failure to deposit penalties if such deposits were made by January 13, 2020.
Source: IRS News Release PR-2020-01.
Interested in submitting an article?
Submit your information to us today!Learn More