IRS Relief for New Mexico Wildfire and Wind Victims
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for victims of wildfires and straight-line winds in New Mexico. The tax relief postpones various tax filing deadlines that began April 5, 2022. Affected individuals and households who reside or have a business in Colfax, Lincoln, Mora, San Miguel, and Valencia counties, as well as taxpayers with records located in the covered area that are needed to meet covered deadlines, qualify for relief.
In addition to extending certain tax filing and tax payment deadlines, the relief includes completion of many time-sensitive, tax-related acts described in IRS Revenue Procedure 2018-58 and Treasury Regulation 301.7508A-1(c)(1). Affected taxpayers with a covered deadline on or after April 5, 2022, and before August 31, 2022, will have until August 31, 2022, to complete the acts. This includes filing Form 5500 series returns that are required to be filed on or after April 5, 2022, and before August 31, 2022.
“Affected taxpayer” automatically includes any individuals who live, and businesses whose principal place of business is located, in the covered disaster area. Those who reside or have a business located outside the covered disaster area, but have been affected by the disaster, may contact the IRS to request relief.
