Local taxpayers affected by the April 15 marathon bombings are eligible to request an extension until Oct. 15 for filing their individual tax returns, the Internal Revenue Service said Friday.
In a press release, the IRS also reminded Boston area taxpayers and others affected by the bombings that their tax returns and tax payments are due Monday, July 15. The IRS said it automatically provided the July 15 extension to affected taxpayers whose returns would have normally been due April 15.
The July 15 extension applies to all individual taxpayers who live in Suffolk County as well as victims, their families, first responders, others impacted by this tragedy who live outside Suffolk County along with taxpayers whose tax preparers were adversely affected, the IRS said in a press release.
“No filing and payment penalties will be due as long as returns are filed and payments are made by July 15,” the IRS said. “By law, interest, currently at the annual rate of 3 percent compounded daily, will still apply to any payments made after the April. The IRS automatically provided this extension to anyone living in Suffolk County. Eligible taxpayers living outside Suffolk County must have claimed this relief by calling 866-562-5227 before filing a return or making a payment. Eligible taxpayers who receive penalty notices from the IRS can also call this number to have these penalties abated.”
Eligible taxpayers who need more time to file their returns may receive an additional extension to Oct. 15 by filing Form 4868 by July 15.
There would be no filing penalties for taxpayers eligible for the Oct. 15 extension. But taxpayers who ask for an extension will have penalties if they owe tax when they file their return. That is why it is suggested that if taxpayers think they may owe, they should send in a payment with the extension request.