Residents of Cook County are facing a looming deadline as the extended period granted after last summer’s severe flooding in the Chicago area is set to conclude.
The Internal Revenue Service (IRS) has formally announced that the new deadline for specific tax filing and payments, designed to accommodate those affected by the Cook County flooding, is rapidly approaching on February 15.
This deadline extension applies to both businesses and households that felt the impact of the natural disaster.
IRS Extends Tax Deadlines for Cook County Residents
The IRS took action following the severe storms and flooding in Cook County during the summer, leading to a disaster declaration issued by federal officials. This declaration prompted the IRS to extend certain tax deadlines for the affected region.
Tax payments originally due between September 17, 2023, and the new date of February 15, 2024, are now eligible for the extended deadline.
This relief is particularly pertinent for individuals who had a valid extension to file their 2022 tax returns, as the extension period, initially slated to expire on October 16, has now been extended to February 15.
It is essential to highlight that tax payments for 2022 returns, which were originally due on April 18, 2023, are not eligible for relief under this extension.
The February deadline primarily serves as an extension for filing, and taxpayers should be aware that fees and penalties may still apply for late payments.
For individuals who regularly pay taxes on a quarterly basis in the impacted areas, the deadline has also been adjusted.
The original due date of January 16 was moved to February 15 due to the disaster relief action. Similarly, businesses with quarterly payroll and excise tax returns due on October 31, 2023, and January 31, 2024, were granted an extension until February 15.
Calendar-year corporations and tax-exempt organizations in Cook County, whose 2022 extensions ran out on October 16, 2023, and November 15, respectively, are also eligible for this extended deadline.
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IRS Offers Relief Measures for Taxpayers Affected by Cook County Disaster
The IRS emphasizes that taxpayers within the disaster area will automatically receive filing and payment relief when required.
In the event that a taxpayer receives a late-filing or late payment penalty with an original due date within the postponement period, they are encouraged to contact the IRS to discuss the possibility of penalty abatement.
For impacted taxpayers residing outside of Cook County or with businesses located outside the disaster area, the disaster relief hotline at 866-562-5227 is available to provide information about potential relief measures.
With the February 15 deadline rapidly approaching, affected taxpayers are urged to stay informed and take the necessary actions to meet their tax obligations or seek relief as applicable.
The IRS remains committed to assisting those impacted by natural disasters and providing the necessary support during challenging times.
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