Insights

IRS Provides Tax Relief for Victims of Severe Storms, Tornados and Straight-Line Winds


The IRS recently published guidance containing certain relief for individuals and businesses affected by severe storms, tornadoes and straight-line winds that took place on March 3, 2019, in Alabama. Specifically, the IRS offered extensions in relation to certain tax filing deadlines. The extensions apply automatically to any individual or business in an area designated by the Federal Emergency Management Agency as qualifying for individual assistance.

Specifically, individuals and businesses that reside in Lee County may qualify for tax relief. As a result of this relief, individuals or businesses that had forms due on or after March 3, 2019, and before July 31, 2019, have additional time to file the form through July 31, 2019. As it relates to benefits, the relief would generally apply to quarterly payroll, employment and excise tax filings due, as well as to any employers that may have previously applied for a Form 5500 filing extension. However, the extension of time to file and pay does not apply to the W-2, 1094, 1095, 1097, 1098 or 1099 information return series.

Impacted employers should discuss their filing obligations with their CPA or tax professional, with this relief in mind.

IRS News Release »