On 25 March 2024, the US Internal Revenue Service (IRS) announced tax relief for individuals and businesses in the Wrangell Cooperative Association of Alaska Tribal Nation that were affected by severe storms, landslides, and mudslides that began on 20 November 2023.
According to the IRS release—IR-2024-81—these taxpayers now have until 15 July 2024 to file various federal individual and business tax returns and make tax payments.
The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). Currently, this includes the Wrangell Cooperative Association of Alaska Tribal Nation. Individuals and households that reside or have a business in this locality qualify for tax relief.
Filing and payment relief
The tax relief postpones various tax filing and payment deadlines that occurred from 20 November 2023 through 15 July 2024 (postponement period). As a result, affected individuals and businesses will have until 15 July 2024 to file returns and pay any taxes that were originally due during this period.
This means, for example, that the 15 July 2024 deadline will now apply to:
- Individual income tax returns and payments normally due on 15 April 2024.
- 2023 contributions to IRAs and health savings accounts for eligible taxpayers.
- Quarterly estimated income tax payments normally due on 16 January 2024, 15 April 2024, and 17 June 2024.
- Quarterly payroll and excise tax returns normally due on 31 January 2024 and 30 April 2024.
- Calendar-year partnership and S corporation returns normally due on 15 March 2024.
- Calendar-year corporation and fiduciary returns and payments normally due on 15 April 2024.
- Calendar-year tax-exempt organization returns normally due on 15 May 2024.
In addition, penalties for failing to make payroll and excise tax deposits due on or after 20 November 2023 and before 5 December 2023 will be abated as long as the deposits were made by 5 December 2023.
The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. These taxpayers do not need to contact the agency to get this relief.
The IRS urges anyone who needs an additional tax-filing extension beyond 15 July 2024, for their 2023 federal income tax return to request it electronically by 15 April 2024.
Though a disaster-area taxpayer qualifies to request an extension between 15 April 2024 and 15 July 2024, a request filed during this period can only be submitted on paper. Whether requested electronically or on paper, the taxpayer will then have until 15 October 2024 to file, though payments are still due on 15 July 2024.
