The IRS’s Strategic Operating Plan is helping small businesses resolve potential compliance issues up front, through expanded pre-filing and tax certainty programs. These programs allow the IRS and businesses to work together in resolving complex issues before the business files a tax return.
The IRS requests comments from small businesses about improving and expanding tax certainty and issue resolution options for business taxpayers by March 31, 2024.
See the expanding tax certainty and issue resolution programs IRS news release for details and how to submit comments.
2. Current taxpayer relief
Terrorist attacks in the State of Israel
Individuals and businesses affected by the terrorist attacks in the State of Israel now have until Oct. 7, 2024, to file various federal returns, make tax payments and perform other time-sensitive tax-related actions.
California storm victims
The IRS further postponed tax deadlines for most California taxpayers to Nov. 16, 2023. In the wake of last winter’s natural disasters, the normal spring due dates had previously been postponed to Oct. 16.
Seawater and hurricanes
Individuals and businesses impacted by seawater intrusion in parts of Louisiana, Hurricane Lee anywhere in Maine and Massachusetts and Hurricane Idalia in 28 of 159 counties in Georgia now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments.
Hawaii
The IRS provided guidance for employers whose employees forgo sick, vacation or personal leave to aid victims of the wildfires that began in parts of Hawaii on Aug. 8, 2023.
Farmers and ranchers
Eligible farmers and ranchers in 49 states and other areas forced to sell livestock due to drought may have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales.
