IRS Extending Deadline For Tornado Counties
The IRS says it's giving some southern Indiana residents recovering from the recent tornado a little relief.
They've extended their tax filing deadline to May 31 for those in affected counties. IRS Spokesman Luis Garcia says they make their determination based upon whether the President declares a disaster area. Garcia says that paves the way for the law to make tax extensions possible. This year the deadline is April 17th because the 15th falls on a weekend day and the day after that is a legal holiday in the District of Columbia.
Garcia says the extension also includes businesses that have to make tax payments or payroll withholding payments. After that, penalities and fines are the same. Garcia says they're also waiving 'failure to deposit' penalties for employment and excise tax deposits due on or after February 29th and on or before March 15th as long as deposits are made by the 15th. Garcia adds that over 80-percent of tax filers in Indiana are getting refunds so they encourage folks to file as soon as possible.