Victims of the severe storms, tornadoes, and flooding that took place beginning on May 4, 2015 in parts of Texas may qualify for tax relief from the Internal Revenue Service. The President has declared numerous counties in central and east Texas federal disaster areas. A full listing of the affected counties is included in the article link above. The tax deadlines have been extended for affected residents and business owners in these counties.
Among the highlights of the tax relief, the IRS is giving affected taxpayers until November 2, 2015, to file most tax returns (including individual, corporate, partnership, non-profit, estate, trust and gift tax returns, etc.) that have either an original or extended due date occurring on or after May 4 and on or before November 2. The IRS has extended the due date for estimated tax payments originally due June 15 and September 15 until November 2 as well.
If you have been affected, have any questions or would like more information related to the tax relief provisions, please contact us and we’ll be glad to help.