Based on the disaster declaration issued by the Federal Emergency Management Agency (FEMA) for the severe storms and flooding that occurred in parts of Illinois (DR-4728-IL) between June 29, 2023 and July 2, 2023, the Internal Revenue Service (IRS) announced (IL-2023-06) that federal tax filing and payment deadlines falling between the dates of June 29, 2023 and October 30, 2023 have been extended to October 31, 2023 for certain taxpayers, including taxpayers residing in or having their principal place of business located in Cook County, Illinois.
As a result, affected individuals and businesses will have until October 31, 2023, to file federal returns and pay any federal taxes that were originally due during this period. This includes 2022 individual federal income tax returns due on October 16, 2023. The IRS noted, however, that because federal tax payments related to these 2022 returns were due on April 18, 2023, those payments are not eligible for this relief.
The October 31, 2023 deadline also applies to the federal quarterly estimated tax payment, normally due on September 15, 2023. In addition, penalties on payroll and excise tax deposits due on or after June 29, 2023, and before July 14, 2023, will be abated as long as the tax deposits were made by July 14, 2023. In addition, businesses with an original or extended due date including, among others, calendar-year partnerships and S corporations whose 2022 extensions run out on September 15, 2023, and calendar-year corporations whose 2022 extensions run out on October 16, 2023 also qualify for the October 31, 2023 deadline.
The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 866-562-5227 to request this tax relief.
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