The IRS on August 6, 2018, issued a release announcing certain relief for victims of wildfires and high winds that began July 23, 2018, in parts of California.
According to the IRS release, taxpayers affected by the disaster and who reside or have a business in Shasta County, California, may qualify for tax relief.
The IRS is authorized to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. The IRS release provides as an example, taxpayers with certain deadlines falling on or after July 23, 2018 and before November 30, 2018, are granted additional time to file through November 30, 2018. This includes taxpayers who had a valid extension to file their 2017 return due to expire on October 15, 2018; taxpayers with quarterly estimated income tax payments due on September 17, 2018; and taxpayers with quarterly payroll and excise tax returns normally due on July 31, 2018, and October 31, 2018. The relief may also apply for tax-exempt organizations that operate on a calendar-year basis and had an automatic extension scheduled to expire on November 15, 2018.
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 IRS at the telephone number that appears on the IRS notice to have the penalty abated.
© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG International Cooperative (“KPMG International”) is a Swiss entity.
Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. 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 KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in 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.