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IRS extends filing and payment deadlines for certain South Carolina taxpayers

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South Carolina taxpayers filing extendedThe IRS has extended until Feb. 16, 2016, the deadlines for most income tax returns, income tax payments and other time-sensitive actions for taxpayers affected by flooding in federally declared disaster areas in South Carolina. In addition, the IRS is waiving failure-to-deposit penalties for federal payroll and excise tax deposits until Oct. 16, 2015.

The IRS relief applies to taxpayers who reside in or have a principal place of business in one of the  following counties: Berkeley, Calhoun, Charleston, Clarendon, Darlington, Dorchester, Florence, Georgetown, Horry, Kershaw, Lee, Lexington, Orangeburg, Richland, Sumter and Williamsburg. However, it is possible other counties may be added as the government 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. 1, 2015. It includes:
Individual returns due on Oct. 15
  • Estimated tax payments due Jan. 15
  • Payroll and excise tax returns for the third and fourth quarters of 2015
  • Forms 5500 due on Oct. 15
  • Forms 990 due on Nov. 15

The IRS automatically identifies taxpayers located in covered disaster areas and applies the administrative relief. Taxpayers whose residence or principal place of business is outside an identified county must call the IRS disaster hotline at +1 866 562 5227 to be included.

The extended deadline of Feb. 16, 2016, applies to all 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:
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 of Form 5500 series returns
  • Making contributions 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 in respect of any tax
  • Collection by levy or otherwise of any outstanding tax liability
  • Bringing suit by the United States or any officer on its behalf, in respect of any liability in respect of any tax

The deadlines for excise tax and federal payroll deposits that are not covered under the relief listed above are extended to Oct. 16, 2015.

Contact
Dustin Stamper
T +1 202-861-4144
E dustin.stamper@us.gt.com

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