In 2023, there were 1350 recorded tornado landings in the United States alone. Such terrible events can turn people’s lives upside down, making it hard to meet essential deadlines such as filing taxes.
Recognizing this problem, the Internal Revenue Service (IRS) grants tax deadline extensions for residents in counties affected by severe weather. Stewart is one of the regions in the USA that were impacted by tornadoes.
Does Stewart Get a Tax Extension?
Yes! For individuals living in Stewart County, Tennessee, yes, they do. The IRS has extended its tax deadlines across multiple areas of Tennessee, including Stewart, due to the heavy storm in December 2023.
This relief gives much-needed help to taxpayers who might struggle with gathering paperwork or filing returns on time due to this catastrophic event.
Stewart Tax Deadline Extension 2024
Typically, the standard federal tax filing deadline for the 2023 tax year is April 15th of the following year. However, due to tornadoes and storms that hit Stewart, the IRS has decided to grant an extension to all residents and enterprises within that region.
Therefore, people in this area can now file federal tax returns and make payments till June 17, 2024.
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Key Dates to Remember
Here are some critical dates for Stewart taxpayers during the 2024 taxation season:
- April 15, 2024: The initial date for filing federal tax returns for the 2023 tax year.
- June 17, 2024: The new extended deadline was set due to the storm-related delays.
Who Qualifies for the Extension?
The IRS automatically identifies taxpayers in the designated disaster areas for the extended deadlines. However, if taxpayers are unsure about their situation, they should always verify with them directly. Most people will be eligible under normal circumstances.
For instance, to qualify for the tax deadline extension in Stewart, individuals and businesses should be impacted by the severe storms and tornadoes in December 2023. This could include individuals who resided in the area during the disaster or businesses that operate within Stewart.
What the Extension Covers
The tax return extension gives individuals and businesses more time to file tax returns. These are the included points of the tax extension:
- Individuals have additional time to file their standard individual income tax return, Form 1040.
- Specific business tax extensions will be given to businesses in Stewart for filing specific business tax returns.
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How to File for an Additional Extension if Needed?
In Stewart, most taxpayers should find that the Internal Revenue Service’s June 17 deadline provides ample time to meet their federal law obligations. However, if you need more time to file the tax return, request an additional extension with the IRS by submitting form 4868, an Application For Automatic Extension Of Time To File U.S. Individual Income Tax Return before June 17, 2024.
This form typically grants another six months, but remember that this is not an extension of the time allowed to pay taxes. Therefore, taxpayers must estimate what they owe and pay before the initial deadline or suffer penalties, including added interest on top of any balance still due.
How to File Taxes in Stewart?
There are several ways to file your taxes in Stewart. Here’s a simplified breakdown of filing their taxes:
- Gather Documents: Collect all relevant tax documents, such as W-2s for wages, 1099s for miscellaneous income, mortgage interest statements, and receipts for deductible expenses.
- Choose Your Filing Method: Decide between paper filing (downloading forms from the IRS website and mailing them in) or electronic filing (using tax software or an online service).
- Complete the Forms: Electronically or by hand, fill out the appropriate tax forms, enter your personal information, income amounts, and deductions, and calculate your tax liability.
- E-file or Mail: If using tax software, follow the program’s instructions for electronic filing with the IRS. For paper filing, print, sign, and mail your completed forms to the designated IRS address.
- Keep Records: Maintain copies of your tax return and supporting documents for at least three years in case of audits or inquiries.
Conclusion
The Stewart tax deadline extension offers a welcome reprieve for residents and businesses still recovering from the devastation of the December 2023 storms and tornadoes. By taking advantage of this extension, taxpayers gain valuable time to gather documents, address any tax-related complications caused by the disaster, and ensure accurate filing.
Consider exploring Beem’s online tax filing services for a smooth and efficient tax filing experience. Beem offers user-friendly interfaces, step-by-step guidance, and secure online filing options. You may also use Beem’s Free Tax Calculator to receive a fast and accurate estimate of your federal and state tax returns.
