Tax Alert: IRS Deadline Extension Due to Winter Storms

Winter storm extension: Many businesses have extra time to request a 6-month extension

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.

 


Jeffrey G. Cohen Jeffrey G. Cohen, CPA is the Partner-in-Charge of Tax Services at Grassi. With over 30 years of experience, Jeff specializes in serving companies within the Manufacturing and Distribution Industry, with an emphasis on the Food & Beverage and Pharmaceutical sectors. A leading tax expert in the New York Metropolitan area, Jeff has enabled his clients to realize significant tax savings through proper Income and... Read full bio