Victims of the severe storms and flooding that took place on May 21 in Arkansas may qualify for tax relief from the Internal Revenue Service, according to a June 12 news release from the IRS.
The President has declared that a major disaster occurred in the State of Arkansas. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS announced June 12 that affected taxpayers in certain areas will receive tax relief.
Individuals who reside or have businesses in Conway, Crawford, Faulkner, Jefferson, Perry, Pulaski, Sebastian, and Yell counties may qualify for tax relief.
The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after May 21 and before Sept. 30 are granted additional time to file through Sept. 30. This includes the quarterly estimated income tax payment due on June 17 as well as the employment and excise tax returns due on July 31, according to the release.
Penalties on payroll and excise tax deposits due on or after May 21 and before June 5 will be abated as long as the deposits were made by June 5.
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 automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.
Taxpayers may download forms and publications from the official IRS website, irs.gov, or order them by calling 800-829-3676. The IRS toll-free number for general tax questions is 800-829-1040.