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Individual Tax

IRS Announces Tax Relief for Island of St.Croix

Thomson Reuters Tax & Accounting  

Thomson Reuters Tax & Accounting  

The IRS has announced that individuals and households affected by a water shortage and an unprecedented influx of sargassum seagrass that reside or have a business on the St. Croix in the U.S. Virgin Islands qualify for tax relief. The IRS has postponed certain deadlines falling on or after July 15, 2022, and before November 15, 2022, to November 15.

This means individuals who had a valid extension to file their 2021 return due to run out on October 17, 2022, will now have until November 15, 2022, to file. The IRS noted, however, that because tax payments related to these 2021 returns were due on April 18, 2022, those payments are not eligible for this relief.

The November 15 deadline also applies to the quarterly estimated tax payment, normally due September 15, and the quarterly payroll and excise tax returns, normally due August 1 and October 31, 2022. In addition, businesses with an original or extended due date also have the additional time—including calendar-year partnerships and S corporations whose 2021 extensions run out on September 15 and calendar-year corporations whose 2021 extensions run out on October 17—will also have until November 15 to file their 2021 returns.


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