Mississippi victims of storms March 24-25 now have until July 31, 2023, to file tax returns and make payments.

Following the disaster declaration issued by the Federal Emergency Management Agency, individuals and households affected by severe storms, straight-line winds and tornadoes that reside or have a business in Carroll, Humphreys, Monroe, and Sharkey counties qualify for tax relief.

The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after March 24, 2023, and before July 31, 2023, are granted additional time to file through July 31, 2023. As a result, affected individuals and businesses will have until July 31 to file returns and pay any taxes that were originally due during this period. This includes 2022 individual income tax returns due on April 18, as well as various 2022 business returns normally due on April 18. Among other things, this means that eligible taxpayers will have until July 31 to make 2022 contributions to their IRAs and health savings accounts.

The July 31, 2023, deadline also applies to any payment normally due during this period, including quarterly estimated tax payments, quarterly payroll and excise tax returns. In addition, penalties on payroll and excise tax deposits due on or after March 24, 2023, and before April 10, 2023, will be abated as long as the tax deposits are made by April 10, 2023.

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 should call the telephone number on the notice to have the IRS abate the penalty.

The IRS encourages affected taxpayers to file for an extension electronically by April 18, 2023, if the taxpayer feels more time is needed to complete the tax return before the July 31, 2023, deadline. This can be done for free using IRS Free File. For details about this and other electronic options, visit IRS.gov/Extensions.

The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 866-562-5227 to request this tax relief.

 

Other Relief

The IRS will waive the usual fees and requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned Disaster Designation, Mississippi, severe storms, straight-line winds and tornadoes, in bold letters at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.

Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case. Taxpayers may download forms and publications from the official IRS website, IRS.gov.