Following President Obama’s disaster declaration for the state of Louisiana, the Internal Revenue Service (IRS) announced that affected taxpayers in Louisiana will receive tax relief.
So, what does this mean for taxpayers of North Louisiana? Glad you asked…
North Louisiana residents are receiving additional time to file tax returns and pay taxes. In addition, North Louisiana businesses (identified as those whose principal place of business is located in North Louisiana) qualify for relief.
Specifically, the IRS has postponed the 2015 individual income tax deadline to July 15, 2016 (3 months after April 18, 2016 deadline). This means that North Louisiana residents have an additional three (3) months to file tax returns and pay tax liabilities. Furthermore, the first and second quarter estimated tax payments (due April 18, 2016 and June 15, 2016, respectively) for 2016 have been postponed to July 15, 2016.
The tax deadline for filing returns and paying taxes of North Louisiana businesses has likewise been postponed until July 15, 2016. This relief applies to corporations, S-corporations, partnerships, estates/trusts, and exempt organizations.
North Louisiana Parishes Affected
Bienville, Bossier, Caddo, Caldwell, Desoto, Claiborne, Grant, Lincoln, Morehouse, Ouachita, Red River, Richland, & Webster
Note Issued by IRS: Affected taxpayers 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.
For more information on this development, here is a link to Notice LA-2016-01 on the IRS website.
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