Tax Relief for St. Croix Island, U.S. Virgin Islands Taxpayers Due to Water Shortage

Due to a water shortage and the health impact of the influx of Sargassum seagrass beginning July 15, 2022, on St. Croix Island, U.S. Virgin Islands, the Internal Revenue Service (IRS) has announced that affected taxpayers will receive tax relief.

Tax relief extends to November 15, 2022, with certain deadlines falling on or after July 15, 2022 and before November 15, 2022. Deadlines that apply to Individual Retirement Accounts (IRAs), Health Savings Accounts (HSAs) and Coverdell Education Savings Accounts (CESA) and other tax-advantaged accounts that fall within this period are extended. The IRS Disaster assistance and emergency relief for individuals and businesses The page contains details of returns, payments, and tax-related actions eligible for the additional time.

Please note that unless an act is specifically listed in Tax Procedure 2018-58, extension of the filing and payment deadline Not Applicable information returns of series W-2, 1094, 1095, 1097, 1098 or 1099; forms 1042-S, 3921, 3922 or 8027; or employment tax and excise deposits.

For the opportunity to learn more about IRAs and other tax-advantaged accounts, including Coverdell Health Savings Accounts and Education Savings Accounts, consider the Wolters Kluwer IRA Library or Video Training on-demand offered on a variety of topics. go here to learn more about the training opportunities available to you, or you can call us at 1-800-552-9408.

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