After the flood disasters in Louisiana earlier this month, the Internal Revenue Service announced that victims have five more months to file returns that were originally due on September 17,2016.
The new deadline for individual and business tax returns is Jan. 17, 2017. Residents in East Baton Rouge, Livingston, St. Helena and Tangipahoa areas will be getting this special tax relief. More residents in other areas may be added as more damage is assessed throughout the state.
Previously, individual filers that had originally requested a tax-filing extension were set to submit their filings and payments by Oct. 17, 2016. However, the 2015 tax payments that were originally due in April are not eligible for relief.
Businesses will also get a break. The IRS says a few different business tax deadlines were set for Sept. 15 and Oct. 31 of this year, but both are getting the new extension deadline of Jan. 17, 2017. If you live in one of the flooded areas in Louisiana and your business was supposed to file corporation and partnership returns or quarterly payroll and exercise tax returns, you can now submit your filings by the new deadline.
Also, the IRS announced it is waiving late-deposit penalties for federal payroll and excise tax deposits that were normally due between Aug. 11 and Aug. 26 of this year.
Residents of these areas do not need to request an extra extension. The IRS notes that anyone with an address in the area is automatically given relief.
This isn’t the first time the IRS has given relief to victims of natural disasters. Earlier this year they gave relief for Texas-area residents after massive floods. They also gave relief to West Virginia residents after flooding, landslides and mudslides occurred in June.