IRS grants tax relief to victims of severe storms and flooding in Texas

The IRS has announced tax relief for taxpayers who reside or have a business in the federal disaster areas of Cameron and Hidalgo counties, which were affected by severe storms and flooding beginning on June 19, 2018. The relief extends until October 31, 2018 deadlines for filing various returns, including the filing of Form 5500s, and paying taxes otherwise due during the period of June 19, 2018 and on or before October 31, 2018.

For payroll and excise tax deposits due on or after June 19, 2018, the IRS will waive the failure to deposit penalties if such deposits were made by July 5, 2018.

Source: IRS News Release HI-2018-05.

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