On Monday (02/24), the Internal Revenue Service announced tax relief for individuals and businesses in Kentucky affected by severe storms, straight-line winds, flooding, and landslides that began on February 14.
These taxpayers have until November 3, 2025, to file various federal individual and business tax returns and make tax payments.
Following the disaster declaration issued by the Federal Emergency Management Agency (FEMA), individuals and households that reside or have a business in the entire state qualify for tax relief. The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area.
For instance, certain deadlines falling on or after February 14, 2025, and before November 3, 2025, are granted additional time to file.
The November deadline applies to individual income tax returns and payments normally due on April 15, 2025. The November deadline also applies to 2024 contributions to IRAs and health savings accounts for eligible taxpayers.
According to the press release, this relief also applies to the estimated tax payments normally due on April 15, June 16, and September 15, 2025. Penalties on payroll and excise tax deposits due on or after February 14 and before March 3 will be abated as long as the tax deposits are made by March 3.
The November deadline also applies to affected businesses:
Quarterly payroll and excise tax returns are normally due on April 30, July 31, and Sept. 30.
Calendar-year partnership and S corporation returns are normally due on March 17.
Calendar-year corporation and fiduciary returns and payments are normally due on April 15.
Calendar-year tax-exempt organization returns are normally due on May 15.
If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original 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 in the covered disaster area and applies for filing and payment relief. However, affected taxpayers who reside or have a business outside the covered disaster area should call the IRS Special Services toll-free number at 866-562-5227 to request this tax relief.
Reminder about tax return preparation options
Eligible individuals or families can get free help preparing their tax returns at Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) sites. To find the closest free tax help site, use the VITA Locator Tool or call 800-906-9887. Note that normally, VITA sites cannot help claim disaster losses.
To find an AARP Tax-Aide site, use the AARP Site Locator Tool or call 888-227-7669.
Any individual or family whose adjusted gross income (AGI) was $84,000 or less in 2024 can use IRS Free File’s Guided Tax Software at no cost. There are products in English and Spanish.
Another Free File option is Free File Fillable Forms. These are electronic federal tax forms, equivalent to a paper 1040 and are designed for taxpayers who are comfortable filling out IRS tax forms. Anyone, regardless of income, can use this option.
MilTax, a Department of Defense program, offers free return preparation software and electronic filing for federal tax returns and up to three state income tax returns. It’s available for all military members and some veterans, with no income limit.
Source: WBKO
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