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The Federal Reserve wrapped up a two-day policy meeting Wednesday, delivering pretty much what the market expected.
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The IRS announced that victims of the water crisis in Mississippi (including Jackson, Miss.) that started on August 30, 2022, will have more time to file various individual and business tax returns and make tax payments. Specifically, impacted taxpayers will have until February 15, 2023, to file and pay tax returns and payments due between August 30 and February 14.
SEE MORE 2022 Tax Calendar: Important Tax Due Dates and Deadlines
The tax relief is available to anyone in any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. At this point, only affected taxpayers who live or have a business in Hinds County (which includes Jackson, Miss.) qualify for the extensions, but the IRS will offer the same relief to any taxpayers in other areas designated by FEMA later.
The IRS will also waive fees for obtaining copies of previously filed tax returns for taxpayers affected by the water crisis. When requesting copies of a tax return or a tax return transcript, write "Mississippi Water Crisis" in bold letters at the top of Form 4506 (copy of return) or Form 4506-T (transcript) and send it to the IRS.
The IRS will also work with other people who live outside the disaster area but whose tax records are in the disaster area. Call the IRS at 866-562-5227 if you face this situation. This also includes relief workers affiliated with a recognized government or philanthropic organization, and anyone visiting the area who was killed or injured as a result of the disaster.
Deadlines Extended
The deadlines that are pushed back for Mississippi wa
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