Baldwin Haspel Burke & Mayer LLC

BHBM Tax Law Alert | Hurricane Ida Tax Extension

Posted on by Baldwin, Haspel, Burke & Mayer

 

WELCOME

Thank you for subscribing to our firm’s Tax Law Alert. If you have any questions pertaining to this information, please contact our Leon H. Rittenberg, III by email leon3@bhbmlaw.com or by phone at (504) 232-6300.

We at Baldwin Haspel Burke & Mayer hope that you and your families are safe and well and that you suffered minimal property damage. During the time that power is unavailable at our offices, each of our attorneys is set up to operate remotely. Should you need to contact the Firm, you may still do so through our cell phone numbers and email addresses.

HURRICANE IDA DEADLINE EXTENSIONS

The Internal Revenue Service announced that victims of Hurricane Ida, including all residents of Louisiana, will have until Jan. 3, 2022, to file individual, estate and gift and business tax returns and make tax payments due after Aug. 26. The IRS relief applies to individuals, estates, trusts  and businesses in any area designated by the Federal Emergency Management Agency as qualifying for individual or public assistance related to Ida. This includes all of Louisiana and parts of neighboring states.  The relief will allow individuals and companies that received extensions to file 2020 tax returns on Oct. 15 a further extension until Jan. 3, the IRS said.

Louisiana was not nearly as generous yet.  Louisiana returns may be due before Federal Returns based on the following recent pronouncement.

In accordance with LA R.S. 47:1514(C), the Secretary of the Louisiana Department of Revenue (“Department”) is granting automatic filing and payment extensions to taxpayers whose homes, principal places of business, critical tax records, or paid tax preparers are located in Louisiana. For tax returns submitted by the extended deadlines and for payments either submitted by the extended deadline or for which an installment agreement is entered into by the extended deadline, no late filing penalties, late payment penalties, or interest will be due. Any return or tax on which penalty or interest began accruing before August 28, 2021, will not be eligible for this relief.  Excise Tax returns due 8.31 are now due 9.15.

If you have any questions regarding, you may contact our tax law group.


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The information contained within this newsletter does not constitute legal advice and is not intended to create an attorney-client relationship. You should consult an attorney for individual advice regarding your own particular situation.


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