IRS Grants Businesses Winter Storm Extension on 3/15 Deadline

The IRS today announced that it would be granting many businesses in the Northeast and Mid-Atlantic affected by the recent winter storms an extra 5 days to request an extension of time to file their 6-month extension.

Note – This announcement is from the IRS and only pertains to federal tax filings. It is up to each state and locality to determine if they will offer a similar extension due to the storms.

WASHINGTON — The Internal Revenue Service today granted many businesses affected by severe winter storms additional time to request a six-month extension to file their 2017 federal income tax returns.

The IRS is providing this relief to victims and tax professionals affected by last week’s storm–known as Winter Storm Quinn—and this week’s storm –known as Winter Storm Skylar–that primarily hit portions of the Northeast and Mid-Atlantic.

Business taxpayers who are unable to file their return by the regular due date—Thursday, March 15, 2018–can request an automatic extension by filing Form 7004, on or before Tuesday, March 20, 2018.  Form 7004,  available on IRS.gov, provides a six-month extension for returns filed by partnerships (Forms 1065 and 1065-B) and S corporations (Form 1120S).

Eligible taxpayers taking advantage of this relief should write, “Winter Storm Quinn” or “Winter Storm Skylar,” on their Form 7004 extension request (if filing this form on paper).  As always, the fastest and easiest way to get an extension is to file this form electronically.

The IRS will continue to monitor conditions and provide additional relief if circumstances warrant.

Not sure if this applies to you? Need to file your business extension? Let us know, we can help!

 

Source: https://www.irs.gov/newsroom/winter-storm-extension-many-businesses-have-extra-time-to-request-a-6-month-extension