IRS Relief for Missouri Storm Victims

Missouri storm victims now have until May 16 to file their returns and pay any taxes due, according to the Internal Revenue Service.

All workers assisting in relief activities who are affiliated with a recognized government or philanthropic organization also qualify for relief.

Following the recent Federal Emergency Management Agency disaster declaration for individual assistance, the IRS said that affected taxpayers in Barry, Barton, Camden, Cape Girardeau, Cole, Crawford, Franklin, Gasconade, Greene, Hickory, Jasper, Jefferson, Laclede, Lawrence, Lincoln, Maries, McDonald, Morgan, Newton, Osage, Phelps, Polk, Pulaski, Scott, St. Charles, St. Francois, St. Louis, Ste. Genevieve, Stone, Taney, Texas, Webster and Wright Counties will receive this and other special tax relief.

Other locations in Missouri and other states may be added in coming days.

The relief postpones various filing and payment deadlines that started on Dec. 23, 2015. This includes 2015 income tax returns normally due on April 18, as well as the Jan. 15 and April 18 deadlines for quarterly estimated tax payments.

A variety of business tax deadlines are also affected, including the February 1 and May 2 deadlines for quarterly payroll and excise tax returns and the special March 1 deadline for farmers and fishermen who choose to forgo making estimated tax payments.

The IRS is also waiving late-deposit penalties for federal payroll and excise tax deposits normally due on or after Dec. 23 and before Jan. 7 if the deposits were made by Jan. 7, 2016.

Details on available relief can be found on the disaster relief page on IRS.gov.

The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, the taxpayer should call the number on the notice.

In addition, the IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at (866) 562-5227.

Individuals and businesses who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on either the return for the year the loss occurred or the return for the prior year.

For reprint and licensing requests for this article, click here.
Tax practice
MORE FROM ACCOUNTING TODAY