IRS Extends Federal Tax Filing Deadline for Victims of December Kentucky Tornadoes
Dec 20, 2021
The IRS announced Tuesday, December 14, that Kentucky residents affected by the December 10 round of tornadoes that swept through the state will have until May 16, 2022, to pay and file their various individual and business tax returns. This extension deadline includes 2021 individual tax returns initially due April 18, 2022, and business returns typically due March 15 and April 18. This announcement comes after the FEMA disaster declaration and provides relief to taxpayers affected by tornadoes, storms, and flooding that ravaged parts of Kentucky on December 10.
Penalties on payroll and excise tax deposits typically due on or after December 10 and before December 27, 2021, will be abated if the deposits are made by December 27, 2021. Additionally, farmers choosing to forgo paying their estimated taxes due and who usually file returns by March 1 will now have until May 16, 2022, to file and pay any taxes due.
The IRS denotes that this relief applies to taxpayers living in or having business in Caldwell, Christian, Fulton, Graves, Hart, Hickman, Hopkins, Logan, Lyon, Marshall, Muhlenberg, Ohio, Taylor and Warren counties (as of the publish date of this alert). The IRS will provide the same relief options to any other localities designated by FEMA. Check out the full announcement regarding this extension on the IRS website. As always, check CRIcpa.com often and our social media channels as we will continue to provide updates as they are announced. For questions related to your specific individual or business tax situation, please reach out to your CRI advisor.
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