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Federal and Louisiana IDA relief – Tax Extensions

Both the IRS and the Louisiana Department of Revenue have issued tax updates for IDA relief: extensions for tax return and payment deadlines that were due starting on August 26, 2021.

Wegmann Dazet is here to help, working in our offices and remotely to help with any questions you have.  We know many of our clients have been impacted by Hurricane Ida and we are available to provide service or answer questions.

1) The IRS has announced tax relief that postpones various tax filing and payment deadlines that occurred starting on August 26, 2021. Affected individuals and businesses will now have until January 3, 2022 to file returns and pay any taxes that were originally due during this period.  The relief includes:

  • Individuals who had a valid extension to October 15, 2021 to file their 2020 returns
  • Quarterly estimated tax payments that were normally due on September 15
  • Quarterly payroll and excise tax returns normally due on November 1, 2021.
  • Calendar year tax-exempt organizations that had a valid extension to November 15, 2021 to file their returns
  • Business returns that are due Sept 15th and Oct 15th have been extended to Jan 3 also. These include Partnership, S Corp and C Corp returns.

The relief is available to any area designated by FEMA as qualifying for individual or public assistance. This includes the entire state of Louisiana, but taxpayers in Ida-impacted localities designated by FEMA in neighboring states will automatically receive the same filing and payment relief.

 

2) On September 7, the state of Louisiana issued similar IDA relief in their Revenue Information Bulletin 21-024. For individual income, corporation income and franchise, fiduciary income, partnership, and partnership composite tax returns with original or extended due dates on or after August 26, 2021, and before January 3, 2022, the automatic extended due date to file the return is January 3, 2022. See link to full announcement / .PDF.

 

Contact your Wegmann Dazet partner or either of our offices with questions. Our thoughts and concerns are for you and your families.

 

 

 

 

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