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Tax Relief Due to Recent Severe Weather in Iowa

Severe weather has been active across the state of Iowa, affecting individuals and businesses. Governor Reynolds and the Internal Revenue Service have implemented various forms of tax relief for those most affected by severe weather.  

Iowa Penalty Relief 

On May 21, 2024, Governor Reynolds issued a Proclamation of Disaster Emergency for the following Iowa counties: Adams, Cass, Clay, Hardin, Harrison, Jasper, Kossuth, Marshall, Page, Palo Alto, Pottawattamie, Tama, and Warren. Penalty relief is available for taxpayers who may have missed deadlines to file or pay Iowa taxes because records were destroyed by severe weather. Affected taxpayers can submit a penalty waiver request form or make the request online at GovConnectIowa.  

IRS Extension of Deadline to File & Make Payments  

The Federal Emergency Management Agency (FEMA) issued a disaster declaration for individuals residing in and businesses located in the following Iowa counties: Clarke, Harrison, Mills, Polk, Pottawattamie, Ringgold, Shelby, and Union. Affected taxpayers now have until October 15, 2024, to file certain tax returns and make any payments that were due on or after April 26, 2024, but before October 15, 2024. For example, the extension applies to quarterly estimated tax payments normally due on June 17, 2024, and September 16, 2024, and payroll and excise tax returns normally due April 30, 2024, and July 31, 2024. 

Additionally, penalties on payroll and excise tax deposits due on or after April 26, 2024, and before May 13, 2024, will be abated if the deposits were made by May 13, 2024.  

Special thanks to summer associate Grace Kruse for her significant contribution in writing this article and researching many of the underlying taxation issues.  

This article was written for general informational purposes and summarizes forms of tax laws. As such, it should not be relied upon for compliance with the Internal Revenue Code or state tax laws. 

If you have questions surrounding any tax-related matters, please reach out to Christopher Nuss, Maggie Simonson Schild, or one of our other Taxation Attorneys.