IRS provides tax relief for taxpayers affected by storms in Missouri
Taxpayers affected by storms in Missouri now have until November 15, 2022, to file various individual and business tax returns
IRS provides tax relief for taxpayers affected by storms in Missouri
The IRS announced that taxpayers affected by storms in Missouri now have until November 15, 2022, to file various individual and business tax returns and make tax payments.
According to the IRS release—IR-2022-149 (August 10, 2022)—the tax relief is provided after a recent disaster declaration issued by the Federal Emergency Management Agency (FEMA). The FEMA declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside in or have a business in the disaster area.
Individuals and households affected by the severe storms and who reside in or have a business in the Independent City of St. Louis, as well as St. Charles, Montgomery, and St. Louis counties in Missouri, qualify for tax relief.
- The tax relief postpones various tax filing and payment deadlines that occurred starting on July 25, 2022. As a result, affected individuals and businesses will have until November 15, 2022, to file returns and pay any taxes that were originally due during this period. This means individuals who had a valid extension to file their 2021 return due to run out on October 17, 2022, will now have until November 15, 2022, to file. The IRS noted, however, that because tax payments related to these 2021 returns were due on April 18, 2022, those payments are not eligible for this relief.
- The November 15, 2022 deadline also applies to quarterly estimated income tax payments due on September 15, 2022, and the quarterly payroll and excise tax returns normally due on August 1 and October 31, 2022. Businesses with an original or extended due date also have the additional time including—this includes, among others, calendar-year partnerships and S corporations whose 2021 extensions run out on September 15, 2022, and calendar-year corporations whose 2021 extensions run out on October 17, 2022.
- Penalties on payroll and excise tax deposits due on or after July 25, 2022, and before August 9, 2022, will be abated as long as the deposits were made by August 9, 2022.
If an affected taxpayer receives a late-filing or late-payment penalty notice from the IRS but has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer is directed to call the telephone number on the notice to have the IRS abate the penalty.
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