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IRS Confirms Tax Relief, Extensions For Kentucky, Missouri Flood Victims

IRS Confirms Tax Relief, Extensions For Kentucky, Missouri Flood Victims

The Internal Revenue Service (IRS) has confirmed tax extensions for victims of the severe flooding in Kentucky and Missouri.

Earlier this month, Eastern Kentucky faced catastrophic flooding in places like Perry County and Breathitt County. The Lexington Herald Leader noted that other "cities on the Ohio River, including Paducah, were inundated, and there was also flooding on the Kentucky, Barren, and Green Rivers."

At the time, Governor Andy Beshear (D) told NBC Nightly News anchor Lester Holt, “This is by far the worst flooding disaster, at least of my lifetime, in Kentucky."

The IRS Newsroom issued a statement for Kentucky flood victims, saying in part:

The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual or public assistance. Currently, individuals and households that reside or have a business in Breathitt, Clay, Floyd, Johnson, Knott, Leslie, Letcher, Magoffin, Martin, Owsley, Perry, Pike and Wolfe counties in Kentucky qualify for tax relief. The same relief will be available to any other locality added later by FEMA. The current list of eligible localities is always available on the disaster relief page on IRS.gov.

The tax relief postpones various tax filing and payment deadlines that occurred starting on July 26, 2022. As a result, affected individuals and businesses will have until November 15, 2022, to file returns and pay any taxes that were originally due during this period.

Now, the IRS has confirmed that victims of the ongoing flooding in Missouri will receive the same tax relief. Per the latest IRS Newsroom post: '

The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual or public assistance. Currently, individuals and households that reside or have a business in the Independent City of St. Louis, as well as St. Charles, Montgomery and St. Louis counties in Missouri, qualify for tax relief. The same relief will be available to any other locality added later by FEMA. The current list of eligible localities is always available on the disaster relief page on IRS.gov.

The tax relief postpones various tax filing and payment deadlines that occurred starting on July 25, 2022. As a result, affected individuals and businesses will have until November 15, 2022, to file returns and pay any taxes that were originally due during this period.

This November 15 deadline for residents of both states means that those who filed 2021 tax extensions are no longer bound by the original October 17, 2022 filing date. 

The IRS did, however, note that "because tax payments related to these 2021 returns were due on April 18, 2022, those payments are not eligible for this relief."

The new November 15, 2022 deadline also applies to quarterly estimated income tax payments that were originally due on September 15, 2022, and to payroll and excise tax returns that were scheduled to be paid by August 1 and October. 31, 2022.

What do you think about the new filing deadlines for KY and MO flood victims?

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Rebekah Barton

Rebekah Barton

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