The IRS has given storm victims in parts of Georgia and Alabama until May 15, 2023 to file various individual and business federal tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). This means that individuals and households who reside or have a business in Butts, Henry, Jasper, Meriwether, Newton, Spalding, and Troup counties in Georgia and Autauga and Dallas counties in Alabama qualify for tax relief. Other areas subsequently added to the disaster area will also qualify for the same relief. The current list of eligible locations is available at the disaster relief page on IRS.gov.
The tax relief postpones various tax filing and payment deadlines that occur on or after January 12, 2023. As a result, affected individuals and businesses will have until May 15, 2023 to file returns and pay the taxes they originally owed during this period. .
This includes 2022 individual income tax returns that are due on April 18, as well as various 2022 business returns that are normally due on March 15 and April 18. Among other things, this means eligible taxpayers will have until May 15 to make 2022 contributions to their IRAs and health savings accounts.
Additionally, farmers who opt out of making estimated tax payments and normally file their returns by March 1 will now have until May 15, 2023 to file their 2022 return and pay any tax due. The May 15, 2023 deadline also applies to quarterly estimated tax payments, which are normally due on January 17, 2023 and April 18, 2023. This means individual taxpayers can skip paying estimated tax fourth quarter, which is normally due January 1, 2023. May 17, 2023, and instead include it with the 2022 tax return they file on or before May 15.
The May 15 deadline also applies to quarterly payroll and excise tax returns that are normally due on January 31 and April 30, 2023. January 27, 2023, will be reduced as long as deposits taxes are made before January 27, 2023.
He IRS Disaster Relief The page has details about other tax-related filings, payments, and actions that qualify for the extra time. The IRS automatically provides filing and penalty relief to any taxpayer with an IRS registered address located in the disaster area. Therefore, taxpayers do not need to contact the agency to obtain this relief. However, if an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended deposit, payment, or filing due date that falls within the deferral period, the taxpayer should call the number provided. appears on the notice to request the fine. diminished
In addition, the IRS will work with any taxpayer who lives outside of the disaster area but whose records needed to meet a deadline that occurs during the deferral period are located in the affected area. Taxpayers who qualify for relief who live outside the disaster area should contact the IRS at 866-562-5227. This also includes relief workers who are affiliated with a recognized government or philanthropic organization.
Individuals and businesses in a federally declared disaster area who sustained uninsured or unreimbursed disaster-related losses may elect to claim them on the return for the year the loss occurred (in this case, the 2023 return that usually filed next year) or on the return for the prior year (2022, typically filed this tax season). Be sure to write the FEMA statement number (4684-DR for Alabama or 4685-DR for Georgia) on any statement claiming a loss. Watch Publication 547 for details.
The tax relief is part of a coordinated federal response to the damage caused by these storms and is based on local damage assessments conducted by FEMA. For information on disaster recovery, visit disasterassistance.gov.
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