The IRS has announced an extension of the May 15 tax deadline for taxpayers affected by recent disasters in California, Alabama, and Georgia. As a result, taxpayers residing in these areas will have until October 16, 2022, to file their tax returns and make payments without incurring any penalties or interest. This extension will provide much-needed relief to those struggling to cope with the aftermath of these disasters.
The extension applies to taxpayers who live or have businesses in disaster areas and includes individuals, businesses, and tax-exempt organizations. Additionally, the IRS will waive any late-filing penalties or interest for taxpayers who cannot meet the extended deadline. This will give them additional time to gather necessary documents, assess damages, and complete their tax returns.
The IRS has stated that taxpayers who reside outside of the disaster areas but have records required to meet tax filing deadlines in these areas may also be eligible for relief. This will ensure that those who have been affected by these disasters can focus on rebuilding their lives while the IRS works to provide assistance and support. With this extension, the IRS aims to help taxpayers struggling due to recent natural disasters get back on their feet and provide them with some much-needed relief during these trying times.