Victims of Severe Storms and Flooding in Louisiana Eligible for Tax Relief (article)

Victims of Severe Storms and Flooding in Louisiana Eligible for Tax Relief (article)

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Victims of severe storms and flooding that began on August 11, 2016, in parts of Louisiana may qualify for tax relief from the IRS. The president has declared the parishes of Acadia, Ascension, Avoyelles, East Baton Rouge, East Feliciana, Evangeline, Iberia, Iberville, Jefferson Davis, Lafayette, Livingston, Pointe Coupee, St. Helena, St. Landry, St. Martin, St. Tammany, Tangipahoa, Vermilion, Washington and West Feliciana a federal disaster area. The IRS has postponed certain deadlines for taxpayers who reside or have a business in the disaster area.

For instance, certain deadlines falling on or after August 11, 2016, and before January 17, 2017, have been postponed to January 17, 2017. This includes individual returns on extension to October 17, the September 15 deadline for making quarterly estimated tax payments, the 2015 corporate and partnership returns on extension through September 15, and the October 31 deadlines for quarterly payroll and excise tax returns.

The IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after August 11, 2016, as long as the deposits are made by August 26, 2016. Filing relief includes the Form 5500 series returns, but not information returns in the Form W-2, 1098, or 1099 series or Forms 1042-S or 8027.


Taxpayers in the covered disaster area can claim disaster-related casualty losses on their federal income tax return for either 2015 or 2016. Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. Taxpayers claiming the disaster loss on their 2015 return should write the disaster designation "Louisiana, Severe Storms and Flooding" at the top of their return in order to allow the IRS to expedite processing of the refund. The IRS will waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should add the assigned disaster designation at the top of Form 4506, Request for a Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.


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Victims of Severe Storms and Flooding in Louisiana Eligible for Tax Relief (article)Certain tax filing deadlines have been extended for those affected by the flooding in Louisiana....2016-08-25T18:14:00-05:00

Certain tax filing deadlines have been extended for those affected by the flooding in Louisiana.