The IRS will grant extra time for United States citizens in trouble as a result of flooding. This will happen in the State of Maine, but it could happen in other states. And is that in the current times we are having several natural disasters. Therefore, the IRS could take action on this and help in some way to those citizens.
Although at the moment we only have information about Maine, the truth is that the information is very relevant. In addition to having extra time, there is also other help that will come in handy for the citizens of Maine. The IRS wants to do everything it can to help these Americans have the best life possible.
So if you live in Maine you will want to know that not only will you be able to file your Tax Return later, but you will get some financial help in this regard. The IRS has made an announcement with all the help they are willing to offer and it is really interesting. In this sense, those Americans from Maine should know all these advantages in order to apply for them.
IRS Tax Extension for Maine Residents
Last December 17, 2023 was the last day of the extended Tax Season for that year. But the citizens of Maine will have the possibility to send the Tax Return with much more comfort during 2024.
Victims of severe storms and flooding that began on Dec. 17, 2023, in parts of #Maine may qualify for tax relief from the #IRS. Learn more: https://t.co/1HJtpeJeKi pic.twitter.com/C0kedwYFc5
— IRSnews (@IRSnews) February 7, 2024
The deadline for these citizens will be June 17, 2024. So if you haven’t yet sent in your paperwork there is still time to do so. As for that, the IRS extension, according to the official information on their own website affects the following:
- Individual income 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 Jan. 16 and April 15, 2024.
- Quarterly payroll and excise tax returns normally due on Jan. 31 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.
There are also other interesting things to note. For example, any qualified disaster help payments will not be included in the Tax REturn. Similarly, we also should not include income received from government agency help for various purposes. This makes our Tax Return a little different, so we should keep this in mind when submitting it to the IRS.
Finally, we should also keep in mind that IRA retirement plan taxpayers have additional benefits. If such a citizen can have a special disaster distribution he/she would not have to pay the additional 10% tax. This is only in the case of early distribution. Even so, not all Americans can enjoy this payment.
For any doubts, it is best to consult directly with the IRS, as they will be able to resolve any questions we have. What is certain is that if you live in Maine you will have until June 17th to send the Tax Return documentation and, therefore, enjoy extra time to make the necessary documentation.