The Internal Revenue Service (IRS) put forth a tax relief initiative to aid residents and businesses affected by the severe storms and flooding in South Louisiana. This would include certain filing deadline extensions, grants of relief for applicable late payments and claiming casualty losses. The IRS identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. This initiative is driven by the disaster declaration for individual assistance in several parishes across South Louisiana by the Federal Emergency Management Agency (FEMA). A complete list of qualifying parishes and the program that covers them can be found on their website or by calling the IRS Disaster Hotline at 866-562-5227.
Additionally, Louisiana Department of Revenue released information on filing and payment extensions available for Louisiana taxpayers affected by August flooding
- Filing and payment extensions available for Louisiana taxpayers affected by August flooding
- Tax Relief for Victims of Severe Storms, Flooding in Louisiana
If you have questions about how this tax relief may affect you, contact your Hannis T. Bourgeois (HTB) advisor for assistance.