Arkansas taxpayers are currently required to file their taxes until November 3rd.
The IRS on Monday said all Arkansas residents and businesses will need to file income taxes until November 3rd due to the severe storms, tornadoes and floods that hit the state earlier this month.
The IRS expansion will postpone tax returns and payment deadlines from April 2nd to November 3rd of this year, according to the statement.
“As a result, affected individuals and businesses will be required to file and pay the taxes originally paid during this period until November 3, 2025,” the IRS statement said.
Specifically, the extension applies to individual income tax returns and payments scheduled for April 15th, contributions to health savings accounts and individual retirement accounts for 2024, quarterly estimated taxes between the aforementioned dates, quarterly payroll taxes for that period, calendar year corporations, and quarterly payroll taxes between tax returns for April 15th, and calendar year tax returns.
“In addition, penalties for not making salary and excise tax deposits after April 2, 2025 and before April 17, 2025 will be reduced if deposits are made by April 17, 2025,” the IRS said.
Related Stories
Also on Monday, the IRS announced an extension across Tennessee due to storms, tornadoes and floods for businesses and individual taxpayers.
The May 1 deadline applies to taxpayers affected by a disaster declaration issued by the Federal Emergency Management Agency (FEMA) last year, including taxpayers in Alabama, Florida, Georgia, North Carolina, South Carolina, and Juneau, Alaska. Chavez County, New Mexico. Dozens of Virginia counties.
The IRS also said taxpayers in Los Angeles County, California, were affected by a catastrophic wildfire in the Palisard region of the Pacific Ocean in January.
Aside from these locations, all taxpayers in Kentucky and those in West Virginia, Boone, Greenbrier, Lincoln, Logan, McDowell, Mercer, Minroe, Raleigh, Summers, Wayne and Wyoming can file their taxes by November 3rd.
For everyone else, the deadline for filing individual income taxes is April 15th, or tax date.
“Some returns may require additional reviews and may take some time, and don’t forget to consider how long it takes for financial institutions to post refunds to their accounts and receive them in the mail,” the IRS said.
