If you live in Ohio and suffered the consequences of the Tornado, you may qualify for tax relief. Bear in mind that the Internal Revenue Service (IRS) has also put off several deadlines.
Not only individuals can take advantage of these IRS changes, but also businesses. So, if you were affected by tornadoes that started on Marh 14, 2024, you may qualify.
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WHEN IS THE NEW IRS DEADLINE FOR TAXPAYERS IMPACTED BY TORNADOES IN OHIO?
The Internal Revenue Service claims that these taxpayers will have until September 3, 2024, to file their 2023 tax return. It does not matter if it is a business or individual tax return, both have that new deadline.
What is more, they will also have September 3, 2024, to make tax payments. Do not forget that the IRS is going to help taxpayers by offering relief in all the areas that FEMA designates.
Therefore, if you live in one of these counties like Union, Richland, Miami, Mercer, Logan, Licking, Hancock, Delaware, Darke, Crawford, and Auglaize you qualify for tax relief.
IRS CLAIMS THIS DEADLINE APPLIES TO
The Internal Revenue Service states that the September 3, 2024 deadline applies to Individual tax returns and tax payments which were due on April 15, 2024.
Apart from that, the 2023 contributions to IRA accounts and health savings accounts if you are eligible will also take this new deadline. Quarterly estimated income tax payment has also been put off. The quarterly payroll and excise tax returns which usually have the deadline on July 31 and April 30.
Calendar-year partnership and S corporations returns which are generally due on March 15, 2024. But the list goes on, so visit this IRS website to learn more about it. https://www.irs.gov/newsroom/irs-announces-tax-relief-for-taxpayers-impacted-by-tornadoes-in-ohio-various-deadlines-postponed-to-sept-3-2024