The Internal Revenue Service (IRS) is offering tax relief for individuals and businesses in Mississippi that were affected by severe storms, straight-line winds, tornadoes, and flooding that ran from April 8-11.
Following the disaster declaration issued by the Federal Emergency Management Agency (FEMA), individuals and households that reside or have a business in Hancock, Hinds, Humphreys, Madison, Neshoba, and Scott counties qualify for relief.
The declaration permits the IRS to postpone certain tax filing and payment deadlines for those who reside or have a business in the disaster area. Taxpayers in the affected counties now have until November 1 to file various federal returns and make tax payments.
The November deadline applies to individual income tax returns and payments normally due on April 15, or Tax Day. The extended deadline also applies to any payment normally due during this period, including the quarterly estimated tax payment due on April 15, June 17, and September 16, and the quarterly payroll and excise tax returns normally due on April 30, July 31, and October 31.
In addition, penalties on payroll and excise tax deposits due on or after April 8 and before April 23 will be abated as long as the tax deposits were made by April 23. In addition, the extended deadline applies to 2023 contributions to IRAs and health savings accounts for eligible taxpayers, calendar-year corporations, and fiduciary returns and payments normally due on Tax Day as well as calendar-year tax-exempt organization returns normally due on May 15.
If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original filing, payment, or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty.
The IRS automatically identifies taxpayers located in the covered disaster area and applies for filing and payment relief. However, affected taxpayers who reside or have a business located outside the covered disaster area are urged to call the IRS disaster hotline at (866)562-5227 to request this tax relief. Disaster area tax preparers with clients located outside the disaster area can choose to use the bulk requests from practitioners for disaster relief options described on IRS.gov.
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