The Internal Revenue Service (IRS) has announced much-needed tax relief for Texas individuals and businesses affected by the severe storms, straight-line winds, tornadoes, and flooding that have impacted many communities since April 26, 2024.
Who Qualifies for Tax Relief?
Following a disaster declaration from the Federal Emergency Management Agency (FEMA), residents and businesses located in the following counties are eligible for tax relief:
- New Additions to the List (as of June 7, 2024): Austin, Bosque, Brown, Caldwell, Clay, Coleman, Concho, Coryell, Dallas, Falls, Freestone, Grimes, Hamilton, Hockley, Houston, Kaufman, Lampasas, Lee, Leon, Limestone, Madison, Mills, Newton, San Saba, Smith, Van Zandt, and Washington counties.
- Previously Included Counties: Bell, Cooke, Collin, Denton, Eastland, Ellis, Hardin, Harris, Henderson, Jasper, Jones, Lamar, Liberty, Montague, Montgomery, Navarro, Polk, San Jacinto, Terrell, Trinity, Tyler, Walker, and Waller counties.
Extended Deadlines
Taxpayers in the affected areas now have until November 1, 2024, to complete the following:
- Federal Tax Returns and Payments:
- Quarterly estimated tax payments originally due on June 17, 2024, and September 16, 2024.
- Quarterly payroll and excise tax returns originally due on April 30, 2024, July 31, 2024, and October 31, 2024.
- Penalty Abatement:
- Penalties on payroll and excise tax deposits due from April 26, 2024, to May 13, 2024, will be abated as long as the tax deposits were made by May 13, 2024.
What You Need to Do
If you reside or have a business in an affected county, there’s no need to contact the IRS to get this relief. The IRS automatically identifies taxpayers in the covered disaster area and applies filing and payment relief.
However, if you receive a late filing or late payment penalty notice from the IRS but believe you qualify for the relief, you can contact the number on the notice to have the penalty abated.
For more detailed information, including additional tax relief provisions, visit the IRS website at IRS announces tax relief for taxpayers impacted by severe storms, straight-line winds, tornadoes and flooding in Texas | Internal Revenue Service.