The IRS announced that it was extending certain tax deadlines to January 17, 2017, for victims in parts of Louisiana impacted by storms and flooding earlier this month. The extension applies to deadlines starting on August 11, 2016 (e.g., corporate returns due on September 15 and individual returns due on October 17 for which filing extensions had been obtained). However, the extension does not give taxpayers more time to pay their 2015 taxes; taxes for individual filers were due on April 18, 2016, so interest continues to accrue on unpaid amounts.
Barbara Weltman
Big Ideas for Small Business, Inc.
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