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IRS Notice of Tax Relief for Victims of WI Storms

On October 19, 2018, the IRS posted information on tax relief for Wisconsin victims of severe storms and related weather incidents that took place beginning on Aug. 17, 2018. Individuals who reside or have a business in Crawford, Dane, Juneau, La Crosse, Monroe, Richland, Sauk, and Vernon counties may qualify for the relief. 

The tax relief includes the following:

  • Certain deadlines falling on or after Aug. 17, 2018 and before Dec. 17, 2018, are extended through Dec. 17, 2018. This includes:
    • taxpayers who had a valid extension to Oct. 15, 2018 to file their 2017 income tax return.
    • tax-exempt organizations that operate on a calendar-year basis and had an automatic extension to Nov. 15, 2018 to file their return.
    • quarterly estimated income tax payments due on Sept. 17, 2018.
    • quarterly payroll and excise tax returns normally due on Oct. 31, 2018.
  • Penalties on payroll and excise tax deposits due on or after Aug. 17, 2018, and before Sept. 3, 2018, will be abated as long as the deposits were made by Sept. 3, 2018.

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. The IRS indicated that 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.

See IRS release WI-2018-07 for additional information on the relief granted.

DISCLAIMER: The information provided is for general informational purposes only. This post is not updated to account for changes in the law and should not be considered tax or legal advice. This article is not intended to create an attorney-client relationship. You should consult with legal and/or financial advisors for legal and tax advice tailored to your specific circumstances.

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