IRS Announces Tax Relief for Americans Impacted by Attacks in Israel

(DailyDig.com) – Tax assistance for people and companies affected by Hamas’ terror assault in Israel was announced by the Internal Revenue Service (IRS) on October 13.

Deadlines for filing returns and making payments have been extended for both businesses and individuals. After the terrorist assault by Hamas on Israel on October 7, taxpayers have been given until October 7, 2024, to complete their forms and make any tax payments that were originally due.

According to the IRS, those whose primary home or company is in the affected region would be identified automatically based on their prior tax filings and granted relief. The IRS catastrophe hotline may be reached at 866-562-5227, where qualified taxpayers can also request this delay. To reach someone internationally, dial 267-941-1000.

Help for victims of the Middle East turmoil is being extended to the following groups:

– Aid workers and others associated with a government or charity providing services in the affected region.

– Those who were murdered, wounded, or taken captive while visiting the affected region by terrorists.

– Anyone who must keep or have their tax records kept in the covered region, including businesses, individuals, estates, trusts, and sole proprietors.

If a fiscal year business or individual has an extension of time on their 2022 tax return that was supposed to expire on October 16 this year, they have until October 17, 2024 to file; however, the extension does not apply to payments, which were originally due on April 18, 2023.

Eligible taxpayers can postpone filing their 2023 business and individual tax returns, making their 2023 estimated payroll and estimated income tax payments, as well as their 2023 excise tax returns and rollovers and contributions for their retirement plans, during the period.

If deposits are paid by November 6, 2023, the penalty for late payment of excise and payroll taxes payable between October 7 and November 6 will be waived.

If more information or clarification is required, the IRS catastrophe hotline may be reached at 866-562-5227. To reach someone internationally, dial 267-941-1000.