IRS offers tax relief to Kentucky individuals, businesses affected by floods

As communities in Kentucky recover from devastating floods last week, the IRS said it would grant an extension for individuals and business to file various tax returns and make tax payments. The tax relief postpones various tax filing and payment deadlines that started July 26.

As a result, affected individuals and businesses will have until Nov. 15 to file returns and pay any taxes that were originally due during this period. Individuals who had a valid extension to file their 2021 return due to run out on Oct. 17 will now have until Nov. 15 to file, the IRS said. Relief is available to individuals and households that reside or have a business in Breathitt, Clay, Floyd, Johnson, Knott, Leslie, Letcher, Magoffin, Martin, Owsley, Perry, Pike and Wolfe counties.

ABA continues to encourage bankers from across the country to support disaster relief efforts by contributing to the Kentucky Bankers Association’s Kentucky Bankers Relief Fund, which is providing direct assistance to bank employees affected by the flooding.