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 Fremont, Harrison, Mills, Monona, and Woodbury Counties in Iowa, which were affected by severe storms and flooding that took place on March 12, 2019. The relief extends until July 31, 2019 deadlines for filing various returns, including the filing of Form 5500s, and paying taxes otherwise due during the period of March 12, 2019 and before July 31, 2019. This includes the 2018 individual income tax returns and payments normally due on April 15, 2019. Also, eligible taxpayers will have until July 31, 2019 to make 2018 IRA contributions.
For payroll and excise tax deposits due on or after March 12, 2019, the IRS will waive the failure to deposit penalties if such deposits were made by March 27, 2019.
SOURCE: IRS News Release IA-2019-02.
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