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Tax Relief for Michigan Residents Affected by Severe Storms and Flooding


The Internal Revenue Service (IRS) has declared tax relief for individuals and businesses in parts of Michigan impacted by severe storms, tornadoes, and flooding that began on August 24, 2023.


Taxpayers in the designated areas, including Eaton, Ingham, Ionia, Kent, Livingston, Macomb, Monroe, Oakland, and Wayne counties, now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments.


The relief applies to any area designated by the Federal Emergency Management Agency (FEMA), with the list of eligible localities available on the IRS disaster relief page. Individuals and businesses residing or operating in these localities qualify for tax relief.


The IRS has postponed various tax filing and payment deadlines from August 24, 2023, through June 17, 2024. Affected taxpayers now have until June 17, 2024, to file returns and pay taxes originally due during this period. This includes:


  • individual income tax returns

  • contributions to IRAs and health savings accounts

  • quarterly estimated income tax payments

  • and more.



Penalties for failing to make payroll and excise tax deposits due between August 24, 2023, and September 8, 2023, will be abated if deposits were made by September 8, 2023.


The IRS automatically provides filing and penalty relief to taxpayers with an IRS address of record in the disaster area. For those outside the area but with records necessary for deadlines in the affected area, contact the IRS at 866-562-5227.


Taxpayers needing an additional tax-filing extension beyond June 17 should request it electronically by April 15. However, requests filed between April 15 and June 17 must be submitted on paper, granting an extension until October 15, 2024, to file (with payments still due on June 17).


For those in federally declared disaster areas with uninsured or unreimbursed disaster-related losses, they can claim them on either the 2023 or 2022 return, with an extended election deadline of October 15, 2024.


Qualified disaster relief payments are generally excluded from gross income, allowing affected taxpayers to exclude amounts received for necessary expenses and home repairs.


The IRS may provide additional disaster relief in the future as part of a coordinated federal response to the storm damage. For more information on disaster recovery, individuals can visit DisasterAssistance.gov.

 

Disclaimer: This article is for informational and educational purposes only and does not constitute legal tax advice. Advanced Tax Solutions is not liable or responsible for any damages resulting from or related to your use of this information. It is your responsibility to refer to official IRS documentation for information regarding any tax laws or tax information shown here.

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