IRS: Tax Relief for Taxpayers Impacted by Severe Storms and Flooding in Massachusetts

The IRS announced tax relief for individuals and businesses in parts of Massachusetts affected by severe storms and flooding that began on September 11, 2023. (IR 2024-154, 5/31/2024)

These taxpayers now have until July 31, 2024, to file federal individual and business tax returns and make payments.

Filing and payment relief

This tax relief postpones various tax filing and payment deadlines that occurred from September 11, 2023, through July 31, 2024 (postponement period). Affected individuals and businesses will have until July 31, 2024, to file and pay any taxes due.

The July 31, 2024, deadline will now apply to:

• Individual tax returns and payments normally due on April 15, 2024.
• 2023 contributions to IRAs and health savings accounts for eligible taxpayers.
• Quarterly estimated income tax payments normally due on September 15, 2023; January 16, 2024; April 15, 2024; and June 17, 2024.
• Quarterly payroll and excise tax returns normally due on October 31, 2023; January 31, 2024; and April 30, 2024.
• Calendar-year partnership and S corporation returns normally due on March 15, 2024.
• Calendar-year corporation and fiduciary returns and payments normally due on April 15, 2024.
• Calendar-year tax-exempt organization returns normally due on May 15, 2024.

Reminder about extensions

Anyone who needs a tax-filing extension beyond July 31, 2024, can request it by filing Form 4868, Application for Automatic Extension of Time to File, with the IRS.

Additional tax relief

Individuals and businesses in a federally declared disaster area who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on either the return for the year the loss occurred (in this instance, the 2023 return normally filed this year), or the return for the prior year (2022).