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 the Baldwin, Escambia, and Mobile Counties in Alabama, which were affected by Hurricane Sally that took place on September 14, 2020. The relief extends until January 15, 2021 deadlines for filing various returns, including the filing of Form 5500s, and paying taxes otherwise due during the period of September 14, 2020, and before January 15, 2021. This includes individual and business tax filers that had a valid extension to file their 2019 return due to run out on October 15, 2020. The IRS notes, however, that because tax payments related to these 2019 returns were due on July 15, 2020, those payments are not eligible for this relief.
In addition, penalties on payroll and excise tax deposits due on or after September 14, 2020 and before September 30, 2020 will be abated as long as the deposits were made by September 29, 2020.
Source: IRS News Release AL-2020-02.
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