The Internal Revenue Service has announced tax relief for individuals and businesses in Missouri who were affected by severe storms, straight-line winds, tornadoes, and flooding starting on May 19. The IRS has extended the filing deadline for various federal individual and business tax returns and payments until February 3, 2025. This relief applies to individuals who had a valid extension to file their 2023 return, as well as businesses with original or extended due dates falling within specified timeframes. Quarterly estimated tax payments and payroll and excise tax returns normally due during this period have also been extended. Penalties on payroll and excise tax deposits due after May 19, 2024, will be abated as long as they are made by June 3, 2024.
Individuals and households in specified counties in Missouri affected by the disaster can qualify for this tax relief following the disaster declaration by the Federal Emergency Management Agency. For more information and details, individuals and businesses can click here.
The tax relief measures have been put in place to assist those impacted by the severe weather events in Missouri and to provide some relief during this challenging time. Copyright 2024 KFVS. All rights reserved.
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