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IRS provides tax relief to taxpayers affected by Hurricane Laura

IRS provides tax relief to taxpayers, Hurricane Laura

The IRS today announced the availability of tax relief for taxpayers affected by Hurricane Laura.

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The IRS release—IR-2020-197—explains that among the tax relief measures, the due dates for filing individual and business tax returns or for making certain tax payments generally are postponed to December 31, 2020.

The relief is being made available to taxpayers in the following Louisiana parishes: Allen, Beauregard, Calcasieu, Cameron, Jefferson Davis and Vernon. Other localities if added later to the disaster area will automatically receive the same filing and payment relief.

The tax relief postpones various tax filing and payment deadlines that occurred starting on August 22, 2020.

As a result, affected individuals and business taxpayers will have until December 31, 2020, to file returns and pay any taxes that were originally due during this period—this includes individual taxpayers who had a valid extension to file their 2019 return due to October 15, 2020 (however, tax payments related to these 2019 returns were due on July 15, 2020, and as such, those payments are not eligible for this relief).

The December 31, 2020 deadline also applies to:

  • Quarterly estimated income tax payments due on September 15, 2020
  • Quarterly payroll and excise tax returns normally due on November 2, 2020
  • Tax-exempt organizations, operating on a calendar-year basis, that had a valid extension due to run out on November 16, 2020
  • Businesses with extensions including calendar-year corporations with 2019 extensions scheduled to expire on October 15, 2020

The IRS release also notes that penalties on payroll and excise tax deposits due after August 22 and before September 8, 2020, will be abated as long as the deposits are made by September 8, 2020.

In addition, the IRS release addresses a taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

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