Thousands of Americans have been negatively impacted by the wildfires spreading in Colorado and the IRS is trying to give them relief.
1,000 homes have been destroyed by the fire in between Boulder and Denver.
Two people are being searched for and the start of the fire is being investigated.
IRS Tax extension for 2022
May 16, 2022 is the new deadline for individual and business tax returns.
This means IRA contributions can be made up until that date.
Quarterly payroll taxes that were due for Jan. 31 and May 2, 2022 are now not due until May 16, 2022.
Excise taxes aren’t due until May 16.
Penalties on payroll and excise taxes that were due between Dec. 30, 2021 and Jan. 14, 2022 will be waived is paid by Jan. 14.
Who qualifies for the tax deadline extension from the IRS?
Taxpayers that were impacted by the fires receive the extension.
The IRS has everyone’s address on file, so those within that area will automatically get the extension and not need to apply.
The relief is for people living in that area, or with businesses in the area that suffered.
In order to qualify for the extension if you live outside the area but were impacted, call the IRS at 866-562-5227.
If you’re claiming losses from the fire, write the FEMA declaration number 4634DR on your return with the claim.