January 3, 2022
Candace J. Dixon
The Internal Revenue Service announced that victims of wildfires in Colorado have until May 16, 2022 to file various individual and business tax returns and make tax payments.
The IRS is providing tax relief to those affected by wildfires that took place starting on December 30, 2021 who live or have a business in Boulder County, Colorado, following the disaster declaration issued by the Federal Emergency Management Agency (FEMA). The current list of eligible localities is available on the IRS disaster relief page.
The tax relief postpones various tax filing and payment deadlines that occurred starting on December 30 to May 16, 2022. This includes:
2021 individual income tax returns normally due on April 18.
Various 2021 business returns normally due on March 15 and April 18.
2021 IRA contributions.
Farmers who forgo making estimated tax payments and normally file returns by March 1
Quarterly estimated tax payments normally due January 18 and April 18. Individuals can skip making the fourth quarter estimated tax payment normally due January 18, 2022 and include it with their 2021 returns instead.
Quarterly payroll and excise tax returns normally due on January 31 and May 2, 2022. Penalties on payroll and excise tax deposits due on or after December 30 and before January 14 will be abated as long as they are made by January 14, 2022.
The IRS Disaster Assistance and Emergency Relief for Individuals and Businesses page has details on other returns, payments and actions that qualify for the extended deadline.
While the IRS automatically provides filing and penalty relief to those with an IRS address of record located in the disaster area, so people do not need to contact them to get this relief, if those affected receive a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, they should call the number on the notice to have the penalty abated.
The IRS will work with anyone who lives outside the disaster area but whose records necessary to meet deadlines occurring during the postponement period are located in the affected area; those people must contact the IRS at 866-562-5227. This includes workers affiliated with a government or philanthropic organization assisting with relief activities.
Individuals and businesses who suffered uninsured or unreimbursed disaster-related losses can claim them on either the return for the year the loss occurred or the return for the prior year. They should write the FEMA declaration number 4634DR on any return claiming a loss. See IRS Publication 547 for further details.