The US Internal Revenue Service (IRS), in release NM-2024-05 published on 26 June 2024, announced a relief for individuals and businesses in southern New Mexico that were affected by the South Fork Fire, Salt Fire, and flooding that began on 17 June, 2024.
Taxpayers now have until 1 November, 2024, to file various federal individual and business tax returns and make tax payments.
Individuals and households that reside in or have a business in Lincoln and Otero counties, and on lands of the Mescalero Apache Tribe qualify for tax relief.
The 1 November, 2024, filing deadline applies to:
- Individuals who had a valid extension to file their 2023 return are due to run out on 15 October, 2024. The IRS noted, however, that because tax payments related to these 2023 returns were due on 15 April, 2024, those payments are not eligible for this relief.
- Businesses with an original or extended due date include, among others, calendar-year partnerships and S corporations whose 2023 extensions run out on 16 September, 2024 and calendar-year corporations whose 2023 extensions run out on 15 October, 2024.
The 1 November, 2024, deadline also applies to any payment normally due during this period, including the quarterly estimated tax payments due on 17 June, 2024, and 16 September, 2024, and the quarterly payroll and excise tax returns normally due on 31 July, 2024, and 31 October, 2024.
In addition, penalties on payroll and excise tax deposits due on or after 17 June, 2024, and before 2 July, 2024, will be abated as long as the tax deposits are made by 2 July, 2024.
