On February 24, the IRS announced that disaster-area taxpayers in parts of California, Alabama and Georgia will now have until October 16 to file individual and business tax returns and make tax payments. This is extended from the original deadline of May 15.
The Pinion Tax team has summarized the provision and provided guidance for eligible taxpayers.
Eligibility for extension and action required
This extension does not cover the entirety of these three states, so taxpayers will need to check if their county is included. The current list of eligible locations can be found on the IRS News from Around the Nation page.
Eligible taxpayers will receive this extension automatically. They do not need to contact the agency or file any extension requests. However, any taxpayer qualifying for relief who lives outside the disaster area needs to contact the IRS at 866-562-5227.
The extension goes beyond normal tax filings to also include:
- Most individual and business returns for the 2022 calendar year
- Individual income tax returns, originally due April 18
- Various business returns, normally due March 15 or April 18
- Returns of tax-exempt organizations, normally due May 15
- Estimated tax payment for the fourth quarter of 2022, normally due January 17
- 2023 estimated tax payments, normally due April 18, June 15 and September 15
- Quarterly payroll and excise tax returns, normally due January 31, April 30 and July 31
What the extension means for eligible taxpayers:
- Taxpayers can delay making 2022 contributions to their IRA and health savings account until October 16
- Farmers who choose to forgo making estimated tax payments and normally file their returns by March 1 will now have until October 16, to file their 2022 return and pay any tax due
- Taxpayers can skip making the estimated tax payment for the 2022 fourth quarter, originally due on January 17, and simply include it with the 2022 return, by October 16
If you have been impacted but your county is not on the list, continue to check the IRS website as they are continually adding affected counties.
For any questions or concerns about the new tax relief provision and how it may impact you, please contact a Pinion tax advisor.