The IRS is providing tax relief to individuals and businesses affected by Hurricane Isaac.

Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced that affected taxpayers in Louisiana and Mississippi will receive tax relief. Other locations may be added in coming days based on additional damage assessments by FEMA.

So far, IRS filing and payment relief applies to Ascension, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, St. Bernard, St. Charles, St. John the Baptist and St. Tammany Parishes in Louisiana, and Hancock, Harrison, Jackson and Pearl counties in Mississippi.

The tax relief postpones various tax filing and payment deadlines that occurred on or after August 26. Affected individuals and businesses will have until Jan. 11, 2013, to file these returns and pay any taxes due. This includes corporations and businesses that previously obtained an extension until Sept. 17, 2012, to file their 2011 returns, and individuals and businesses that received a similar extension until October 15. It also includes the estimated tax payment for the third quarter of 2012, normally due September 17.

The IRS will abate any interest, late-payment or late-filing penalty that would otherwise apply.

The IRS is also waiving failure-to-deposit penalties for federal employment and excise tax deposits normally due on or after August 26 and before September 10, if the deposits are made by Sept. 10, 2012.

Details on available relief, including information on how to claim a disaster loss by amending a prior-year tax return, can be found on the IRS’s disaster relief page and the disaster recovery page.

The IRS has also issued general taxpayer advice for disaster planning in the new hurricane season.