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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.