IRS provides tax relief for taxpayers affected by wildfires in New Mexico

Certain deadlines falling on or after April 5, 2022, and before August 31, 2022, are postponed through August 31, 2022.

Taxpayers affected by wildfires in New Mexico

The IRS announced that taxpayers in New Mexico affected by wildfires and straight-line winds beginning April 5, 2022, now have until August 31, 2022, to file various individual and business tax returns and to make tax payments.

According to the IRS release—NM-2022-05 (May 10, 2022)—the tax relief is provided after a recent disaster declaration issued by the Federal Emergency Management Agency (FEMA).

Individuals and households affected by wildfires and straight-line winds that reside in or have a business in Colfax, Lincoln, Mora, San Miguel and Valencia counties may qualify for the tax relief.

  • Certain deadlines falling on or after April 5, 2022, and before August 31, 2022, are postponed through August 31, 2022.
  • Penalties on payroll and excise tax deposits due on or after April 5, 2022, and before August 31, 2022, will be abated as long as the tax deposits are made by August 31, 2022.

If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer is directed to call the telephone number on the notice to have the IRS abate the penalty.

 

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