IRS provides tax relief for taxpayers in Alaska affected by flooding
Taxpayers in Alaska affected by flooding now have until October 31, 2023, to file various individual and business tax returns and make tax payments
IRS provides tax relief for taxpayers in Alaska affected by flooding
The IRS today announced that taxpayers in parts of Alaska affected by flooding that began on May 12, 2023, now have until October 31, 2023, to file various individual and business tax returns and make tax payments.
According to the IRS release—AK-2023-10 (August 29, 2023)—following the disaster declaration issued by the Federal Emergency Management Agency (FEMA), individuals and households affected by flooding that reside or have a business in the regional educational attendance areas of Bering Strait, Copper River, Kuspuk, Lower Kuskokwim, Lower Yukon and Yukon Flats, in Alaska qualify for tax relief.
The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after May 12, 2023, and before October 31, 2023, are granted additional time to file.
As a result, affected individuals and businesses will have until October 31, 2023, to file returns and pay any taxes that were originally due during this period. This includes 2022 individual income tax returns due on October 16, 2023. The IRS noted, however, that because tax payments related to these 2022 returns were due on April 18, 2023, those payments are not eligible for this relief.
The October 31, 2023, deadline also applies to quarterly estimated tax payments, normally due on June 15 and September 15, 2023. In addition, businesses with an original or extended due date including, among others, calendar-year partnerships and S corporations whose 2022 extensions run out on September 15, and calendar-year corporations whose 2022 extensions run out on October 16, 2023, also qualify for the October 31, 2023, deadline. Penalties on payroll and excise tax deposits due on or after May 12, 2023, and before May 29, 2023, will be abated as long as the tax deposits are made by May 29, 2023.
If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer needs to call the telephone number on the notice to have the IRS abate the penalty.
Affected taxpayers who reside or have a business located outside the covered disaster area can call the IRS disaster hotline to request the tax relief.
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