MEMPHIS, Tenn. — Families in Mississippi affected by this weekend’s tornadoes continue to rebuild their homes and lives. But now they have one less financial issue to worry about, at least for a while.
The IRS has extended the tax deadline for Mississippi storm victims to July 31. The new deadline applies to both individual taxpayers and businesses.
If affected taxpayers need even more time to file beyond the new July, the IRS encourages them to do so before April 18th. The agency says that because between April 18 and July 31, taxpayers would only be allowed to request that extension on paper.
Mississippi taxpayers affected by the storms don’t have to do anything. The IRS automatically provides penalty and filing relief. If, by chance, the IRS sends a late filing notice or a late payment penalty notice in error, call the number on the notice.
Another important note, individuals and businesses who suffered uninsured or unreimbursed disaster-related losses can claim them on the year the loss occurred. In this instance, the loss occurred in 2023, which means they’d file that return in early 2024.
However, they also have the option to claim the losses on the 2022 return.
The IRS has a page for disaster-related tax relief.
