The Internal Revenue Service (IRS) has announced tax relief for all individuals and businesses in Arkansas following the severe storms, tornadoes and flooding beginning April 2. According to Monday’s news release from the agency, taxpayers in the Natural State, including Form 1040 filers, now have until Nov. 3 to file various federal individual and business tax returns and make tax payments.
The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). Individuals and households that reside or have a business in any of Arkansas’ 75 counties qualify for tax relief.
The new deadline will apply to individual income tax returns and payments normally due on April 15, 2024 contributions to IRAs and health savings accounts for eligible taxpayers, quarterly-estimated tax payments normally due on April 15, June 16 and Sept. 15, quarterly payroll and excise tax returns normally due on April 30, July 31 and Oct. 31, calendar-year corporation and fiduciary returns and payments normally due on April 15 and calendar-year tax-exempt organization returns normally due on May 15.
In addition, penalties for failing to make payroll and excise tax deposits due on or after April 2 and before April 17 will be abated if the deposits are made by Thursday. Anyone seeking additional information can contact the IRS Special Services toll-free number at 866-562-5227.
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