Tax Relief for Victims of Severe Storms, Tornadoes, Straight-line Winds, and Flooding in Mississippi

ATLANTA — Victims of the severe storms, tornadoes, and straight-line winds that took place beginning on January 20, 2017, in parts of Mississippi, may qualify for tax relief from the Internal Revenue Service.

The President has declared that a major disaster exists in the State of Mississippi. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in Mississippi will receive tax relief.

Individuals who reside or have a business in Forrest, Lamar, Lauderdale, and Perry Counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after January 20, 2017, and before May 31, 2017, are granted additional time to file through May 31, 2017. This includes 2016 income tax returns normally due on April 18. It also includes the April 18 deadlines for making quarterly estimated tax payments.  Affected taxpayers that have an estimated income tax payment originally due on or after January 20, 2017, and before May 31, 2017, will not be subject to penalties for failure to pay estimated tax installments as long as such payments are paid on or before May 31, 2017.

If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.

For more information, please visit: https://www.irs.gov/uac/tax-relief-for-victims-of-severe-storms-tornadoes-straightline-winds-and-flooding-in-mississippi