The Internal Revenue Service (IRS) announced on its website that victims of Hurricane Fiona in the 78 municipalities of Puerto Rico now have until February 15, 2023 to file your federal individual and business tax returns and make tax payments.
The IRS is offering support to any area designated by the Federal Emergency Management Agency (FEMA). This means that individuals and households that reside or have a business anywhere in the Commonwealth of Puerto Rico qualify for tax relief. The current list of eligible locations is available on the IRS disaster relief page.
With this measure, people who had a valid extension to file their 2021 return that expired on October 17, 2022, will now have until February 15, 2023 to file it. However, the IRS noted that because the tax payments related to these 2021 returns were due on April 18, 2022, those payments are not eligible for this relief.
The February 15, 2023 deadline also applies to quarterly estimated income tax payments due January 17, 2023and quarterly payroll and excise tax returns normally due October 31, 2022 and January 31, 2023 also have the additional time, including but not limited to calendar year corporations whose 2021 extensions are due on October 17, 2022.
Tax-exempt organizations will also have additional timeincluding for calendar year 2021 tax returns with extensions due October 17, 2022.
The IRS further noted that penalties for payroll and excise tax deposits due after September 17, 2022 and before October 3, 2022 will be reduced as long as deposits are made before October 3, 2022.
The IRS disaster relief page has details about other tax-related returns, payments, and actions that qualify for the extra time.
The IRS automatically provides filing and penalty relief to any taxpayer with an address of record in the disaster area. Therefore, taxpayers do not need to contact the agency to get this relief. However, if an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended deposit, payment, or filing due date that falls within the postponement period, the taxpayer should call the number appears in the notice to request the reduction of the fine.
In addition, the IRS will work with any taxpayer who lives outside the disaster area but whose records needed to meet a deadline that occurs during the postponement period are in the affected area. Taxpayers who qualify for relief who live outside the disaster area should contact the IRS at 866-562-5227.. This also includes relief workers who are affiliated with a recognized government or philanthropic organization.
For more information on disaster recovery, go here.
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