IRS Extends Deadline

We know that times have been tough, but we’re here to bring you a bit of good news that might just brighten up your day.

The IRS, in a rare display of sympathy (we know, we were surprised too!), has announced tax relief for individuals and businesses affected by the severe storms, straight-line winds, tornadoes, and flooding that began on April 26, 2024.

Now, before you fall off your chair in shock, let us assure you that this is not a late April Fool’s joke. The IRS has indeed extended the deadline to file various federal individual and business tax returns and make tax payments until November 1, 2024.

So, if you reside or have a business in any of the following counties: Bell, Calhoun, Collin, Cooke, Denton, Eastland, Guadalupe, Hardin, Harris, Henderson, Jasper, Jones, Lamar, Liberty, Montague, Montgomery, Polk, San Jacinto, Trinity, Tyler, Walker, and Waller, Austin, Bosque, Brown, Caldwell, Clay, Coleman, Concho, Coryell, Dallas, Falls, Freestone, Grimes, Hamilton, Hockley, Houston, Kaufman, Lampasas, Lee, Leon, Limestone, Madison, Mills, Newton, San Saba, Smith, Van Zandt, and Washington, you qualify for this tax relief. That’s not all. Perhaps you don’t reside in one of the affected areas, however you’re one of our beloved clients – you’re covered. Per the IRS, if your records are located in the one of the disaster areas (which yours would be, as our office is located in Harris County) you’re entitled to relief.

In other words, you’ve got some extra time to find those receipts you swore were in the kitchen drawer, or maybe it was the office drawer? Or was it the glove compartment?

Remember, this extension also applies to the quarterly estimated tax payments due on June 17, 2024, and September 16, 2024, and the quarterly payroll and excise tax returns normally due on April 30, 2024, July 31, 2024, and October 31, 2024. So, breathe easy and take this time to get your paperwork in order.

If you receive a late filing or late payment penalty notice from the IRS that has an original filing, payment, or deposit due date that falls within the postponement period, don’t panic! Simply call the telephone number on the notice to have the IRS abate the penalty.

We’re here to help you navigate these stormy tax seas. If you have any questions or need assistance, don’t hesitate to reach out. After all, we’re all in this together!

RDJ Advisors PLLC