IRS announced tax relief for individuals and businesses affected in Israel. Qualifying taxpayers now have until Oct. 7, 2024, to file tax returns, make payments, and perform other actions that are time sensitive.
This relief applies to:
- 2023 individual and business returns and payments (exception applies…)
- Quarterly estimated income tax payments (exception applies…)
- Quarterly payroll and excise tax returns (exception applies…)
- Calendar year corporations whose 2022 extensions ending Nov. 16, 2023. Corporate tax payments are not eligible for this relief.
- Individuals whose 2022 extensions ending Nov. 16, 2023. Tax payments that are due on or before Nov. 16, 2023, are not eligible for this relief.
- Retirement plan contributions and rollovers.
According to the relief the following people and entities also qualify:
- Individuals’ whose principal residence or business located in Israel, the West Bank or Gaza.
- Individuals’ whose principal residence or business records, books, or tax preparer is located in the above-mentioned area and more…
Should you have any questions regarding the tax relief for people and businesses affected in Israel, please connect our office at: 310.666.0244
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