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IRS extends filing and payment deadlines because of Texas storms

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IRS extends filing and payment deadlines because of Texas stormsThe IRS has extended until Feb. 29, 2016, the deadlines for most income tax returns, income tax payments and other time-sensitive actions for taxpayers affected by storms in federally declared disaster areas in Texas. In addition, the IRS is waiving failure-to-deposit penalties for federal payroll and excise tax deposits due between Oct. 22, 2015, and Nov. 6, 2015, as long as they were made by Nov. 6, 2015.

The IRS relief applies to taxpayers who reside in or have a principal place of business in one of the counties listed below, but other counties may be added as the Federal Emergency Management Agency (FEMA) assesses damages. Taxpayers whose books and records are located in an affected area are also eligible for relief. The relief applies to deadlines on or after Oct. 22, 2015. It includes:
  • Estimated tax payments due Jan. 15, 2016
  • Payroll and excise tax returns for the third and fourth quarters of 2015
  • Forms 990 due on Nov. 15, 2015
The IRS automatically identifies taxpayers located in covered disaster areas and applies the administrative relief. Eligible taxpayers whose residence or principal place of business is outside of an identified county must call the IRS disaster hotline at +1 866 562 5227 to be included.

Identified counties
The counties identified as of Dec. 1, 2015, are Bastrop, Brazoria, Caldwell, Comal, Galveston, Guadalupe, Hardin, Harris, Hays, Hidalgo, Liberty, Navarro, Travis, Willacy and Wilson.

Applicable actions
The extended deadline of Feb. 29, 2016, applies to all of the tax returns, tax payments and time-sensitive actions listed in Section 7508A, Treas. Reg. Sec. 301.7508A-1(c)(1) and Rev. Proc. 2007-56, which include the following:

  • Filing any income, estate, gift, employment or excise tax return except for the firearms tax, harbor maintenance tax, and alcohol and tobacco taxes
  • Paying any income, estate, gift, generation-skipping tax or excise tax except for the firearms tax, harbor maintenance tax, and alcohol and tobacco taxes
  • Filing Form 5500 series returns
  • Contributing to qualified retirement accounts (including a rollover or reversing a rollover)
  • Deadlines related to like-kind exchanges
  • Filing a petition with the Tax Court
  • Allowance of a credit or refund of any tax
  • Filing a claim for credit or refund of any tax
  • Bringing suit upon a claim for credit or refund of any tax
  • Giving or making any notice or demand for the payment of any tax or regarding any liability to the United States related to any tax
  • Collection by levy or otherwise of any outstanding tax liability
  • Bringing suit by the United States or any officer on its behalf regarding any liability related to any tax

The deadlines for excise tax and federal payroll deposits on or after Oct. 22, 2015, and before Nov. 6, 2015, that are not covered under the relief listed above were extended to Nov. 6, 2015.
 
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