OKLAHOMA CITY – Oklahomans affected by the recent severe storms may qualify for tax relief from the Internal Revenue Service.
Officials say residents who live or have a business in Muskogee, Tulsa and Wagoner Counties may qualify for tax relief for severe storms that took place on May 7.
President Donald Trump declared a major disaster in those three counties. Assistance will include funding from the Federal Emergency Management Agency, low-interest federal loans, disaster unemployment assistance, and possible grants.
The declaration permits the IRS to postpone certain deadlines for taxpayers who live or have a business in the disaster area. Certain deadlines falling on or after May 7 and before September 16, are granted additional time to file through Sept. 16. Officials say this includes the quarterly estimated income tax payment due on June 17, as well as the employment and excise tax returns due on July 31.
And, penalties on payroll and excise tax deposits due on or after May 7 and before May 22, 2019, will be abated as long as the deposits were made by May 22.
If a resident affected by the severe storms receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty.
Oklahomans who live or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.