Disaster-Related Tax Relief

Disaster-Related Tax Relief

On March 22, 2019 the President declared that a major disaster occurred here in Nebraska.  The Federal Emergency Management Agency listed the following counties: Butler, Cass, Colfax, Dodge, Douglas, Nemaha, Sarpy, Saunders, and Washington as counties in which individuals and businesses may qualify for tax relief.  The following headings briefly cover what the relief entails.

Extended tax filing deadline

Under section 7508A affected taxpayers have until July 31, 2019 to file most tax returns that have a original or extended due date occurring on or after March 9, 2019 and before July 31, 2019.  This includes individual returns, corporate returns, estate and trust income tax returns, partnership returns, and S corporation returns to list a few.  Taxpayers affected that have an estimated income tax payment will not be subject to penalties for failure to pay estimated tax installments as long as such payments are paid on or before July 31, 2019.

Read about additional dimensions of the federal tax relief on Nebraska Extension's Flood.unl.edu at Federal Taxes.


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