IRS grants tax relief to victims of severe storms, flooding, straight-line winds, and tornadoes in Iowa
Posted by DaveMoll on Jul. 18, 2024 / Subscribe 0
The IRS has announced tax relief for taxpayers who reside or have a business in the federal disaster areas of Buena Vista, Cherokee, Clay, Dickinson, Emmet, Lyon, O'Brien, Osceola, Plymouth, Sioux, and Woodbury Counties in Iowa, which were affected by severe storms, flooding, straight-line winds, and tornadoes, that began on June 16, 2024.
The relief extends until Nov. 1, 2024, deadlines for filing various returns, including the filing of Form 5500s, and paying taxes otherwise due during the period of June 16, 2024, and before Nov. 1, 2024. The Nov. 1, 2024, deadline applies to individual income tax returns and payments normally due during this period.
The Nov. 1, 2024, deadline also applies to the quarterly estimated tax payment, normally due on June 17, 2024, and Sept. 16, 2024. In addition, penalties on payroll and excise tax deposits due on or after June 16, 2024, and before July 1, 2024, will be abated as long as the tax deposits were made by July 1, 2024.
IRS News Release IA-2024-08, June 27, 2024 (updated July 8, 2024, and July 10, 2024).
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