April 17, 2013

IRS grants Boston taxpayers 3-month extension

After the Boston Marathon explosions on Monday, the Internal Revenue Service announced that those affected taxpayers would get a 3-month extension on the April 15 deadline.

“Our hearts go out to the people affected by this tragic event,” said acting IRS Commissioner Steven Miller. “We want victims and others affected by this terrible tragedy to have the time they need to finish their individual tax returns.”

Details on the extension were shared by the IRS yesterday answering these three unavoidable questions: Who qualifies? When’s the new deadline? What if I have questions?

We’ve compiled answers to those questions and a few more below.

Who is eligible for this 3-month reprieve?

  • All Boston-area (Suffolk County) taxpayers are automatically eligible for the new extension. No further action is necessary.
  • Bombing victims and their families, first responders, and others whose tax preparers were affected also qualify.
  • Starting April 23, 2013, eligible non-Suffolk County residents who have not yet filed their 2012 tax returns can also claim this relief by calling 1-866-562-5227.

When is the new due date?

  • Eligible taxpayers now have until July 15, 2013 to file their 2012 returns and pay any taxes normally due on April 15.
  • No penalties will be due as long as taxes are filed by the new deadline.
  • Taxpayers needing an additional extension to October 15, 2013 need to file a Form 4868 by July 15, 2013.

Additional questions:

  • What if I start getting penalty notices? Before filing or making a payment, call 1-866-562-5227 to identify yourself as eligible for the extension.
  • Is there interest on the late payment? The annual rate of 3% interest compounded daily will still apply to any payments made after the April deadline.
  • Will my state return be affected? The Massachusetts Department of Revenue has extended the deadline to at least April 23, 2013.

Have other, unrelated questions? Answers can be found on IRS.gov, and by contacting the IRS toll-free number at 1-800-829-1040.