Have you been affected by Hurricane Laura? Are the impacts of this storm affecting your ability to timely address your tax return obligations? Depending on your location, you may be entitled to an extension. The IRS recently announced that any area designated by FEMA as a Federal Disaster area now has until December 31, 2020 to file individual and business tax returns and make tax payments due to hurricane Laura.
In Louisiana, these areas include the following parishes: Allen, Beauregard, Calcasieu, Cameron, Jefferson Davis, and Vernon parishes. If other parishes are later added to the disaster area, they will then receive the same filing and payment relief. To check if your parish has been added to the list, please visit the disaster relief page on the IRS’ website.
This extension applies to all tax filing and payment deadlines from August 22nd through December. Valid extensions on the April deadline to October 15, 2020 are also included, meaning Taxpayers in the affected area now have until December 31, 2020 to file. However, please note that because tax payments related to these 2019 returns were due on July 15, 2020, those payments are not eligible for this relief and penalties and interest will continue to accrue.
In addition to the parishes listed, the IRS is said to work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period have been lost as a result of the storm. If you live outside of the disaster area and believe you qualify for relief, we encourage you to contact your Tax Professional to explore the options available to you with the IRS.
As always, you can contact Bryson Law Firm, LLC if you need any help with your IRS matters during this time. To our Louisiana neighbors who have been affected by this storm, please know that we are praying for you and here for you during this time of recovery.