Tax relief is available to individuals and businesses in the counties of Erie, Genesee, Niagara, St. Lawrence, and Suffolk.
The IRS has announced that the deadline for filing various individual and business tax returns as well as making tax payments for taxpayers in New York who were impacted by winter storms and snowstorms between December 23, 2022, and December 28, 2022, has been extended to May 15, 2023.
The tax relief is provided following a disaster declaration issued by the Federal Emergency Management Agency (FEMA), according to the IRS release, IR-2023-58 (March 24, 2023). Additionally, the declaration gives the IRS permission to extend specific deadlines for tax returns and payments for taxpayers who live in or operate businesses in the disaster area.
Furthermore, individuals and businesses impacted by winter storms and snowstorms in the counties of Erie, Genesee, Niagara, St. Lawrence, and Suffolk are eligible for assistance.
The following tax deadlines apply:
- Individual income tax returns for 2022 are due on April 18.
- The typical March 15 and April 18 due dates for different 2022 business returns are. The deadline for IRA and health savings account contributions for 2022 for eligible taxpayers is May 15.
- Also, due on May 15 are returns for 2022 and any taxes owed by farmers who choose not to pay estimated tax payments. Who typically file their returns by March 1st, 2023.
- The typical January 17 and April 18 due dates for individual taxpayers to submit their quarterly estimated tax payments. If they file their 2022 tax return by May 15 or earlier, they can forego paying the fourth quarter estimated tax, which is typically due on January 17, 2023.
In addition, any penalties on payroll and excise tax deposits that were supposed to be made between December 23, 2022, and January 9, 2023. Will not be imposed if the deposits are made by January 9, 2023.
Some taxpayers may require additional time to file after the May 15 deadline. If this is the case, the IRS encourages them to request the extension electronically before the original April 18 deadline. IRS Free File and IRS Direct Pay are free and simple options only available on IRS. For more information, go to IRS.gov/extensions.
Any taxpayer with an IRS address of record in the disaster area receives automatic filing and penalty relief. Therefore, taxpayers do not need to reach out to the agency to receive relief. If an IRS notice concerns a postponed deadline, a taxpayer may receive a late filing/payment penalty notice. The taxpayer should get in touch with the IRS at the number on the notice to have the penalty cancelled.
Affected taxpayers who live, own a business outside the disaster area can contact the IRS disaster hotline to request relief.
On December 29, 2022, the IRS announced preliminary tax relief for New York taxpayers affected by December 2022 winter storms.
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