Regulatory and Legislative

IRS Announces Louisiana Hurricane-Related Deadline Extensions

The IRS has issued Announcement LA-2020-05, which describes the postponement of deadlines for victims of Hurricane Delta, damage from which began on October 6, 2020. In addition to extending certain tax filing and tax payment deadlines, the relief includes completion of many time-sensitive, tax-related acts described in Treasury Regulation 301.7508A-1(c)(1), which include filing Form 5500 for retirement plans, completing rollovers, making retirement plan loan payments, etc.

The parishes included in the relief include Acadia, Calcasieu, Cameron, Jefferson Davis, and Vermilion. Taxpayers in other locations will automatically be added to the relief if the disaster area is further expanded.

Affected taxpayers with a covered deadline occurring on or after October 6, 2020, and on or before February 16, 2021, will have until February 16, 2021, to complete the act. “Affected taxpayer” automatically includes anyone who resides, or has a business located, within the designated disaster area. Those who reside or have a business located outside the identified disaster area, but have been affected by the hurricane, may contact the IRS at 866-562-5227 to request the relief.