IRS Provides Tax Relief to Louisiana Storms Victims

On August 15, 2016 the IRS issued news release IR-2016-105. The IRS issued Tax relief by postponing for certain Louisiana taxpayers the due date for certain returns and paying related taxes until January 17, 2017. The granted tax relief postpones deadlines that occurred starting on August 11, 2016, and ended on January 17,2017.

The affected taxpayers are those located in East Baton Rouge, Livingston, St. Helena and Tangipahoa parishes. The IRS will also work with any taxpayer who lives outside of the covered disaster area, but whose tax records necessary to meet a tax deadline occurring during the postponement period period are located in the affected area. It is possible the IRS will add other locations to receive this relief.

This relief applies automatically to any taxpayer with an IRS address of record located in the disaster area. The extended deadline of January 17, 2017 applies to an individual tax filer who with respect to his or her2015 tax return had received a tax extension until October 17, 2016. SEP-IRA contributions being made made for 2015 may now be made as late as of January 17,2017.

The extended deadline of January 17, 2017 applies to an individual tax filer who had taken an IRA distribution and intended to roll it over and was still within his or her 60 day period may now complete this rollover byJanuary 17, 2017.

The extended deadline of January 17, 2017 applies to an individual tax filer who fails to take his or her 2016 RMD by December 31, 2016. The individual now has a deadline of January 17, 2017.

The extended deadline of January 17, 2017 applies to estimated tax payments starting with the September 15,2015, deadline.

The extended deadline of January 17, 2017 also applies to a number of business income tax returns.