Recent storms and flooding in Missouri have resulted in the extension of various federal tax filing and payment due dates to November 15, 2022 for impacted businesses and individuals.

FEMA designated areas qualifying for relief include individuals residing in or businesses located in:

• The Independent City of St. Louis;
• St. Charles County;
• Montgomery County; and
• St. Louis County.

Localities later added by FEMA will also be eligible for this due date postponement. Taxpayers living or working outside designated areas but with records in an impacted area may also be eligible.

Relief is available for federal tax filing and payment deadlines that occur on or after July 25, 2022, and before November 15, 2022, including:

• 2021 individual income tax returns with a valid extension normally due on October 17, 2022 – reminder that an extension to file a return is not an extension to pay associated tax due in April;
• 2021 trust, estate, and gift tax returns with a valid extension normally due on October 17, 2022;
• 2021 calendar year S corporation and partnership returns with a valid extension normally due on September 15, 2022;
• 2021 calendar year corporation returns with a valid extension normally due on October 17, 2022;
• 2022 quarterly estimated income tax payments normally due on September 15, 2022; and
• 2022 quarterly estimated payroll and excise tax returns normally due on August 1 and October 31, 2022.

The IRS has also noted that penalties on payroll and excise tax deposits due on or after July 25, 2022 and before August 9, 2002 will be abated if paid by August 9, 2022. Penalties should not otherwise be imposed for other covered situations, however, if you receive an incorrect IRS notice imposing such penalties during the postponement period, call the IRS and request abatement.

Additionally, if you have an unreimbursed or uninsured disaster-related casualty loss, it may be claimed on either a current year (2022) or prior year (2021) federal income tax return.

More information can be found here.

Please reach out to your RubinBrown representative with questions or concerns.

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