Tax filing deadline extended to May 16 for Missouri storm victims
Posted On: 1-22-2016 | Posted By: WK Staff
Residents of 33 Missouri counties declared disaster areas by the Federal Emergency Management Agency (FEMA) after December storms and severe flooding will be eligible for special tax relief, including extended time to file tax returns, pay amounts due, and file quarterly estimates.
The counties included in the disaster declaration include Barry, Barton, Camden, Cape Girardeau, Cole, Crawford, Franklin, Gasconade, Greene, Hickory, Jasper, Jefferson, Laclede, Lawrence, Lincoln, Maries, McDonald, Morgan, Newton, Osage, Phelps, Polk, Pulaski, Scott, St. Charles, St. Francois, St. Louis, Ste. Genevieve, Stone, Taney, Texas, Webster and Wright counties.
Taxpayers considered to be affected taxpayers include individuals who live in the disaster area as well as businesses whose principal place of business is located in the covered disaster area. Taxpayers not in the covered disaster area, but whose records needed to complete the tax return are in the covered disaster area, are also entitled to relief.
The Missouri Department of Revenue recently announced the extension of state filing and payment deadlines, to coincide with federal deadlines. Therefore, federal and state filing and payment deadlines that fall after December 23, 2015, are extended to May 16, 2016. This includes:
- January 15 deadline for quarterly estimated tax payments;
- February 1 deadline for quarterly payroll and excise tax returns;
- March 1 filing deadline for farmers and fishermen who do not make estimated tax payments;
- March 15 deadline for corporate tax returns;
- April 18 deadline for individual income tax returns and quarterly estimated tax payments; and
- May 2 deadline for quarterly payroll and excise tax returns.
The extension to May 16 is automatic if the taxpayer’s address is located in the designated disaster area. It is possible that affected taxpayers who file their tax returns after April 18 and before May 16, or those who file without paying any amounts due, will receive penalty notices from the Internal Revenue Service and/or Missouri Department of Revenue, which will have to be resolved. If this occurs, contact your WK advisor for assistance.
Williams-Keepers LLC will work with families and businesses that suffered storm damage to complete their tax returns by the May 16 extended deadline. If you and your family or business were not directly affected by the floods, we encourage you to file your returns by the normal April 18 deadline. This will avoid possible IRS and MDOR notices and allow WK advisors to better assist affected victims.
For questions regarding the deadline extension, contact your WK advisor at (573) 442-6171 or (573) 635-6196.