Victims of severe storms, tornadoes, straight-line winds, flooding, and landslides that struck Wisconsin beginning on Aug. 17 may qualify for tax relief from the IRS.
To qualify, individuals must reside or have a business in Crawford, Dane, Juneau, La Crosse, Monroe, Richland, Sauk and Vernon Counties.
Federal disaster 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 Aug. 17 and before Dec. 17 are granted time to file through Dec. 17, including taxpayers who had a valid extension to file their 2017 return due to run out on Oct. 15.
The relief also includes the quarterly estimated income tax payments due on Sept. 17 and the quarterly payroll and excise tax returns normally due on Oct. 31, and applies to tax-exempt organizations that operate on a calendar-year basis and had an automatic extension due to run out on Nov. 15.
Penalties on payroll and excise tax deposits due on or after Aug. 17 and before Sept. 3 will be abated as long as the deposits were made by Sept. 3.
If an affected taxpayer receives an IRS late-filing or late-payment penalty notice that has an original or extended filing, payment or deposit due date that falls within the postponement period, they should call the 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. 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 relief.