Federal Tax Relief
* Victims of Hurricane Beryl, which made landfall on May 19, 2023, may qualify for federal tax relief.
* The Internal Revenue Service (IRS) has designated Bexar, Cameron, Hidalgo, Jim Wells, Kenedy, Kleberg, Live Oak, Nueces, Refugio, San Patricio, Starr, Willacy, and Zapata counties as major disaster areas.
* Affected individuals and businesses may be eligible for the following tax relief:
* An extension of the April 18, 2023, filing deadline for individual and business tax returns to October 16, 2023.
* A waiver of penalties for late filing and late payment of taxes.
* The ability to claim a casualty loss deduction on their federal income tax returns.
State Tax Relief
* The Texas Comptroller’s Office has also provided tax relief to individuals and businesses affected by Hurricane Beryl.
* Affected individuals may be eligible for the following state tax relief:
* A waiver of penalties and interest on late filing and late payment of state income taxes.
* The ability to claim a disaster loss deduction on their state income tax returns.
* Affected businesses may be eligible for the following state tax relief:
* A waiver of penalties and interest on late filing and late payment of state franchise taxes.
* The ability to claim a disaster loss deduction on their state franchise tax returns.
How to Apply for Tax Relief
* Individuals and businesses can apply for federal and state tax relief by calling the IRS at 1-800-829-1040 or the Texas Comptroller’s Office at 1-800-252-1381.
* Affected individuals and businesses should also visit the IRS website at www.irs.gov or the Texas Comptroller’s Office website at www.comptroller.texas.gov for more information.
Other Resources
* The Federal Emergency Management Agency (FEMA) provides disaster assistance to individuals and businesses affected by natural disasters. For more information, visit the FEMA website at www.fema.gov.
* The Texas Department of Emergency Management provides disaster assistance to individuals and businesses affected by natural disasters. For more information, visit the Texas Department of Emergency Management website at www.dps.texas.gov/dem/.
Kind regards
G. Porter
