The IRS has announced tax relief for taxpayers affected by the Alaska storms. The relief includes extending the filing and payment deadlines for individuals and businesses in affected areas. Taxpayers in the affected areas will have until June 15, 2024, to file their individual and business tax returns and make tax payments. The relief also includes waiving penalties for payroll and excise tax deposits due on or after March 25, 2024, and before June 10, 2024.
The IRS announced tax relief for individuals and businesses in the Wrangell Cooperative Association of Alaska Tribal Nation affected by severe storms, landslides, and mudslides that began on November 20, 2023.
According to the IRS release—IR-2024-81 (March 25, 2024)—affected taxpayers now have until July 15, 2024, to file various federal, individual, and business tax returns, and to make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA); the relief will be applicable to any other Alaska localities added to the disaster area later.
The tax relief postpones various tax filing and payment deadlines from November 20, 2023, through July 15, 2024, including:
Penalties for failing to make payroll and excise tax deposits due on or after November 20, 2023, and before December 5, 2023, will be abated as long as the deposits were made by December 5, 2023.
The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area.
Taxpayers who need an additional tax-filing extension beyond July 15, 2024, for their 2023 federal income tax return need to request it electronically by April 15, 2024. Payments are still due on July 15, 2024.
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