Taxpayers from 11 different counties have until November 1, 2024 to file their individual and business federal tax returns and make their payments, the Internal Revenue Service (IRS) announced a tax relief for people and businesses in areas of Kentucky that were affected by severe storms, straight-line winds, tornadoes, and landslides that began on April 2, 2024.
These taxpayers now have until November 1, 2024 to file their individual and business federal tax returns and make payments, the IRS is providing relief to any area designated by the Federal Emergency Management Agency (FEMA) currently, people who reside or have a business in Boyd, Carter, Fayette, Greenup, Henry, Jefferson, Jessamine, Mason, Oldham, Union and Whitley counties are eligible to receive tax relief.
The same relief is available for any other county that is subsequently added to the disaster area, the current list of eligible localities are always available on the disaster tax relief page, https://www.irs.gov/newsroom/tax-relief-in-disaster-situations in IRS.gov.
IRS Offers Tax Filing Relief for Kentucky Storm Victims
The tax relief delays several tax filings and payment deadlines that were due from last April 2, 2024 to November 1, 2024, this is taken as a deferral period.
As a result, the affected individuals and companies will have until November 1, 2024 to make the filing of the returns and make the payment of the taxes that were originally due during that period.
This means that, for example, the deadline of November 1, 2024 will now be applied to:
- Personal income tax returns and payments that are regularly due on April 15, 2024.
- 2023 Contributions to IRAs and health savings accounts for eligible taxpayers.
- Approximate quarterly income tax payments are normally due on April 15, June 17 and September 16, 2024.
- The quarterly payroll and excise tax returns that are normally due on April 30, July 31 and October 31, 2024.
- Fiduciary and corporate returns and payments for the calendar year are normally due on April 15, 2024.
- Tax-exempt organization returns for the calendar year are normally due on May 15, 2024.
Likewise, the penalties for not making payroll and excise tax deposits due on or after April 2, 2024 and before April 17, 2024 will be eliminated as long as the deposits have been made before April 17, 2024.
The disaster assistance and emergency relief for individuals and businesses page has details about other tax-related refunds, payments, and actions that qualify for relief throughout the deferral period.
The IRS automatically offers tax filing and penalty relief to any taxpayer with an IRS-registered address located in the disaster area.These taxpayers do not need to contact the agency to obtain this relief.