Great news for West Virginians and Kentuckians affected by April’s weather woes – the IRS is granting an extension for tax payments until the year’s end.
Kentucky residents residing in specific counties can now file taxes until November 1, while West Virginians in designated counties have until November 30.
The deadline for paying and filing 2023 tax returns has been effectively postponed to November 1, 2024. Additionally, residents of Boone and Kanawha Counties in West Virginia are also covered under this extension from a previous one.
Furthermore, IRS indicated that residents in other Kentucky counties hit by disasters may soon receive similar relief. Here are some key payment deadlines now extended to November 1:
- Individual income tax returns and payments due on April 15, 2024.
- Contributions to IRAs and health savings accounts for 2023 by eligible taxpayers allowed.
- Estimated quarterly income taxes due on April 15, June 17, September 16, and 2024.
- Corporate returns and fiduciary payments due on April 15, 2024.
- Calendar-year returns for tax-exempt organizations due on May 15, 2024.
If you were affected by disasters and have uninsured losses, you can claim these losses in the 2024 return or opt for the prior year, 2023 return. Your relief will automatically apply if you are in a disaster area as recognized by the IRS.
Residents with specific retirement plans may also benefit from relief measures such as special distributions exempt from additional taxes and hardship withdrawals.