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 Clay, Humphreys, Issaquena, Lowndes, Monroe, Sharkey, Warren and Yazoo Counties in Mississippi, which were affected by severe storms, straight-line winds, tornadoes, and flooding that took place from February 22, 2019 to March 29, 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 February 22, 2019 and before July 31, 2019.
For payroll and excise tax deposits due on or after February 22, 2019, the IRS will waive the failure to deposit penalties if such deposits were made by March 11, 2019.
SOURCE: IRS News Release MS-2019-02.
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