IRS Issues Tax Relief for Victims of Alabama Storms
On Monday, March 11, 2019, the IRS announced a tax relief to aid recent victims of the tornadoes and severe storms that tore through Alabama earlier this month. The storms, which produced more than three dozen tornadoes and left a path of destruction nearly 70 miles wide, resulted in FEMA designating many areas as qualified for individual assistance.
Any resident of Alabama whose address on record with the IRS falls within one of these FEMA-designated areas is automatically eligible for the tax relief, which postpones various tax filing and payment deadlines falling on or after March 3, 2019. Affected individuals and businesses now have until July 31 of this year to file their returns and pay any taxes that are originally due during the relief period, including quarterly estimated income tax payments, returns for calendar-year tax-exempt organizations and quarterly payroll and excise tax returns. Further, penalties on payroll and excise tax deposits due on or between March 3, 2019 and March 18, 2019, will be abated as long as the deposits are made by the latter date. To confirm eligibility for the tax relief, visit: www.irs.gov/newsroom/tax-relief-in-disaster-situations.