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 Clackamas, Douglas, Jackson, Klamath, Lane, Lincoln, Linn and Marion counties in Oregon, which were affected by wildfires and straight-line winds that began on September 7, 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 7, 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.
In addition, penalties on payroll and excise tax deposits due on or after September 7, 2020 and before September 22, 2020 will be abated as long as the deposits were made by September 22, 2020.
Source: IRS News Release OR-2020-03.
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