The IRS has announced that victims of Hurricane Sally now have until January 15, 2021, to file various individual and business returns and make tax payments. Individuals and households who reside or have a business in Baldwin, Escambia, and Mobile Counties in Alabama will qualify for this relief. Any localities subsequently added to the disaster declaration will also receive the same relief.
The declaration includes deadlines falling on or after September 14, 2020, and before January 15, 2021, and includes individual and business tax filers that had valid extensions until October 15, 2020, to file their 2019 returns. However, because tax payments related to these 2019 returns were due July 15, 2020, those payments are NOT eligible for this relief.
The January 15, 2021 deadline applies to third-quarter estimated tax payments originally due September 15th. It also applies to quarterly payroll and excise returns normally due November 2nd. In addition, penalties on tax deposits due on or after September 14th and before September 30th will be abated as long as deposits are made by September 29, 2020.
If you have any questions about how this tax filing relief affects you or your business, please let us know.
The Partners of
Russell Thompson Butler & Houston, LLP