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    Thursday, May 02, 2024

    Residents, businesses in New London County get IRS tax filing extension due to flooding

    The Internal Revenue Service has granted an income tax filing extension to June 17 for individuals and businesses in New London County, which was declared a disaster area following the Jan. 10 severe storms, flooding and the emergency evacuations caused by the leak in the Fitchville Pond Dam in Bozrah.

    The IRS tax filing extension in Connecticut applies to any area designated by the Federal Emergency Management Agency as disaster areas, including New London County, the Mohegan Tribal Nation and Mashantucket Pequot Tribal Nation. Individuals, households and businesses in the designated localities qualify for the extension, an IRS news release stated.

    The list of eligible localities is available on the disaster page at www.irs.gov.

    The IRS disaster relief page has details on other returns, payments and tax-related actions qualifying for relief during the postponement period.

    The deadline extension applies to individual income tax returns and payments normally due on April 15, any 2023 contributions to IRAs and health savings accounts for eligible taxpayers, quarterly estimated income tax payments normally due Jan. 16 and April 15, quarterly payroll and excise tax returns normally due Jan. 31 and April 30, calendar-year partnership and corporation returns normally due March 15, calendar-year corporation and fiduciary returns and payments normally due April 15 and calendar-year tax-exempt organization returns normally due on May 15.

    The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area, the IRS news release stated. These taxpayers do not need to contact the agency to get this relief.

    Anyone needing an additional tax-filing extension beyond June 17 for their 2023 federal income tax return should file an electronic request by April 15.

    In Norwich, 11 businesses that suffered flood damage or closure by the Jan. 10 floods will see more immediate relief next week. At 1 p.m. Tuesday, state and local officials will award grants to the businesses under the hastily created Norwich Business Recovery MicroGrant program.

    The day after the floods, the Norwich Community Development Corp. worked with the state Department of Economic and Community Development and the Southeastern Connecticut Enterprise Region to create the micro-grant program to help businesses with immediate recovery costs to speed their reopening.

    The grants will be awarded during a presentation at 1 p.m. Tuesday at the shopping plaza at 50 Pleasant St., Norwich, where several businesses to receive the checks are located.

    c.bessette@theday.com

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