IRS Provides Relief for Taxpayers Affected By Tropical Storm Imelda

The Internal Revenue Service has announced that victims of Tropical Storm Imelda may qualify for tax relief in the form of extended deadlines to file and remit payments for various individual and business tax returns. Affected taxpayers in areas designated by the Federal Emergency Management Agency (“FEMA”) as qualifying for individual assistance have until January 31, 2020, to file returns and make payments originally due on or after September 17, 2019.

Currently, the FEMA-designated disaster areas cover several Texas counties, including Chambers, Harris, Jefferson, Liberty, Montgomery, and Orange County. Taxpayers with an address of record located in these disaster areas will automatically receive filing and penalty relief from the IRS and will not need to contact the IRS in order to utilize the extended deadlines. However, the IRS has stated that it will work with taxpayers living outside of the disaster area, whose records necessary to meet a deadline occurring during the postponement period are located in the affected area; such taxpayers are instructed to contact the IRS at 866-562-5227, in order to ensure that they are able to obtain relief.

Additionally, affected taxpayers that receive a late filing or late payment penalty notice from the IRS with an original or extended filing, payment, or deposit due date falling within the postponement period should call the number on the notice to have the penalty abated.

For additional information regarding extended deadlines and relief granted by the IRS due to Tropical Storm Imelda, please contact your local Marcum professional.