In a recent announcement, the Internal Revenue Service (IRS) is providing tax relief measures for individuals and businesses in Texas impacted by severe storms, straight-line winds, tornadoes and flooding that began on April 26, 2024.
The relief allows affected taxpayers until Nov. 1, 2024, to file various federal individual and business tax returns and make corresponding tax payments. This extension comes in the wake of a disaster declaration issued by the Federal Emergency Management Agency (FEMA), encompassing a significant number of Texas counties.
As reported by the IRS, taxpayers residing or conducting business in specific counties, including but not limited to Austin, Bell, Bosque, Brown, Caldwell, Clay, Coleman, Concho, Coryell, Collin, Dallas, Denton, Falls, Freestone, Grimes, Hamilton, Hockley, Houston, Kaufman, Lampasas, Lee, Leon, Limestone, Madison, Mills, Newton, San Saba, Smith, Van Zandt and Washington, now qualify for this tax relief. The relief spans various tax obligations, such as federal individual, corporate and estate tax returns and other time-sensitive tax-related actions.
Affected taxpayers have until Nov. 1, 2024, to file most tax returns, including individual and business tax filings, typically with original or extended due dates between April 26, 2024, and Nov. 1, 2024. Similarly, estimated income tax payments due after April 26, 2024, are postponed until Nov. 1, 2024, without incurring penalties. The relief also encompasses other tax-related actions described by the IRS, offering flexibility in response to the natural disaster's impact.
The official statement also clarifies that the IRS automatically identifies taxpayers located in the covered disaster area and applies for filing and payment relief. However, affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 866-562-5227 to request this tax relief. Disaster area tax preparers with clients located outside the disaster area can choose to use the bulk requests from practitioners for disaster relief options, described on IRS.gov.
Affected taxpayers are encouraged to visit the official IRS website for further guidance and assistance.
To read the full announcement, or for additional details, click here.
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