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Killeen Tax Center
IRS Tax Tip 2024-83, Oct. 16, 2024 (EXERPTS)
Disaster relief can be authorized by the IRS when certain criteria from the Federal Emergency Management Agency are met. Generally, the IRS will authorize disaster tax relief to all areas identified on a major disaster declaration if FEMA identifies at least one area qualifying for their Individual Assistance program.
The following types of tax relief are a few of the ways the IRS helps after a major disaster.
The IRS gives taxpayers more time to file and pay: Taxpayers whose address of record is in an area qualifying for IRS disaster tax relief will automatically receive extra time from the IRS to file returns and pay taxes. The IRS's disaster assistance page provides updates and links to resources. Information is also available on the IRS X account (formerly Twitter). Taxpayers can also call the agency's disaster line at 866-532-5227 with questions.
Taxpayers can apply for a disaster loan or grant: The Small Business Administration offers financial help to business owners, homeowners and renters in a federally declared disaster area. To qualify, a taxpayer must have filed all required tax returns.
What taxpayers need to do
The IRS waives the usual fees and expedites requests for copies of tax returns for people who need them to apply for disaster-related benefits or to file amended returns claiming disaster-related losses. If filing Forms 4506-T or 4506, the taxpayer should state on the form the request is disaster related and list the state and type of event. The taxpayer’s ability to provide this information helps to speed up the process.
Notify the IRS of any change of address
Need any other assistance or have questions or comments? Stop by or contact us at 254-699-5600 (JimE) or 699-4209 (TomR) and as usual all consults are FREE of charge.
