October 26, 2021
November 17, 2021 update
All of Mississippi now qualifies for the extended tax relief through January 3, 2022.
Victims of Hurricane Ida that reside or have a business in Amite, Claiborne, Copiah, Covington, Franklin, George, Hancock, Harrison, Jackson, Jefferson, Jefferson Davis, Lawrence, Lincoln, Pearl River, Pike, Simpson, Walthall, Wayne, and Wilkinson counties in Mississippi now have until January 3, 2022 to file various individual and business tax returns and make tax payments following the recent disaster declaration issued by the Federal Emergency Management Agency.
Previously, the IRS had provided relief to the entire state of Mississippi, postponing tax-filing and tax-payment deadlines until November 1, 2021 - see IRS announces tax relief for Mississippi victims of Hurricane Ida.
Certain deadlines falling on or after August 28, 2021 and before January 3, 2022 are postponed through January 3, 2022.
Individuals with extensions for 2020 returns due October 15 have until January 3, 2022 to file. Tax payments related to these 2020 returns were due on May 17, 2021 and aren't eligible for the relief.
Calendar-year partnerships and S corporations whose 2020 extensions ran out on September 15, 2021
Calendar-year corporations whose 2020 extensions ran out on October 15, 2021
Quarterly estimated tax payments normally due on September 15
Quarterly payroll and excise tax returns normally due on January 3, 2022
Tax-exempt organizations operating on a calendar-year basis with extensions due January 3, 2022
Penalties on deposits due on or after August 28, 2021 and before September 13, 2021 will be abated as long as the deposits were made by September 13, 2021
The IRS will waive fees on requests for copies of previously filed tax returns. Put the assigned Disaster Designation "Mississippi, Hurricane Ida" in bold letters at the top of Form 4506, Request for Copy of Tax Return or Form 4506-T, Request for Transcript of Tax Return when submitting them to the IRS.
If those affected receive a late filing or late payment penalty notice from the IRS with an original or extended filing, payment or deposit due date falling within the postponement period they should call the telephone number on the notice to have the IRS abate the penalty.
The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief; however, people who are affected but reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 866-562-5227 to request the tax relief.
Those affected who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case.
Casualty Losses
Disaster-related casualty losses can be claimed on federal income tax returns for either the year in which the event occurred or the prior year. See Publication 547 for details. Those claiming the disaster loss on a 2020 return should put the Disaster Designation, "Mississippi, Hurricane Ida" in bold letters at the top of the form and include the FEMA disaster declaration number, DR-4626, on any return. See Publication 547 for details.
Individuals can deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684, Casualties and Thefts and its instructions.
Resources:
IRS announces tax relief for victims of Hurricane Ida in Mississippi