IRS extends tax deadline from April 18 to May 15 for storm victims in Georgia and Alabama

by Ana Lopez

The IRS has given storm victims in parts of Georgia and Alabama until May 15, 2023, to file several federal individual and business tax returns and make tax payments. The IRS provides assistance to any area designated by the Federal Emergency Management Agency (FEMALE). This means that individuals and households residing or operating a business in Butts, Henry, Jasper, Meriwether, Newton, Spalding, and Troup counties in Georgia and Autauga and Dallas counties in Alabama are eligible for tax credits. Other areas that were later added to the disaster area also qualify for the same reception. The current list of eligible places is available on the disaster relief page on IRS.gov.

The tax credit postpones several tax filing and payment deadlines beginning January 12, 2023. As a result, affected individuals and businesses will have until May 15, 2023 to file returns and pay any taxes originally due during this period. .

This includes the 2022 individual income tax returns due April 18, as well as several 2022 business returns that are normally due March 15 and April 18. health savings accounts.

In addition, farmers who choose to waive estimated tax payments and normally file their returns before March 1, now have until May 15, 2023 to file their 2022 returns and pay any tax due. The deadline of May 15, 2023 also applies to the quarterly estimated tax payments, normally due on January 17, 2023 and April 18, 2023. This means that individual taxpayers can skip the estimated fourth quarter tax payment, normally due on January. 17, 2023, and instead include it in the 2022 return they file, on or before May 15.

The May 15 deadline also applies to the quarterly payroll and excise tax return that is normally due on January 31 and April 30, 2023. January 27, 2023, will be reduced as long as the tax deposits are made before January 27, 2023.

The disaster management of the tax authorities page includes details of other returns, payments, and tax-related actions that qualify for the extra time. The IRS automatically provides filing and fine reductions to any taxpayer with a registered IRS address in the disaster area. Therefore, taxpayers do not need to contact the agency to get this exemption. However, if an affected taxpayer receives a late filing or late payment penalty from the IRS with an original or extended filing, payment, or deposit date that falls within the deferral period, the taxpayer must call the number on the notice to obtain the penalty. get taken off.

In addition, the IRS will work with any taxpayer who lives outside the disaster area but whose records needed to meet a deadline during the grace period are in the affected area. Taxpayers who are eligible for assistance and live outside the disaster area should contact the IRS at 866-562-5227. This includes aid workers who support relief efforts and who are affiliated with a recognized government or philanthropic organization.

Individuals and businesses in a government-declared disaster area who have suffered uninsured or uncompensated disaster-related losses can choose to claim them on either the tax return for the year in which the damage occurred (in this case, the 2023 tax return that is normally filed next year), or the return for the previous year (2022, normally filed this tax season). Be sure to include the FEMA return number — 4684-DR for Alabama or 4685-DR for Georgia — on any return claiming a loss. See Publication 547 for details.

The tax credit is part of a coordinated federal response to the damage caused by these storms and is based on local damage assessments by FEMA. For disaster recovery information, go to disasterhelp.gov.

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