The Internal Revenue Service announced tax relief for individuals and businesses in Iowa that were affected by severe storms, tornadoes and flooding that occurred on May 20. These taxpayers now have until Nov. 1, 2024, to file various federal individual and business tax returns and make tax payments. Following the disaster declaration issued by the Federal Emergency Management Agency, individuals and households that reside or have a business in Adair, Montgomery, Polk and Story counties qualify for tax relief. The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after May 20, 2024, and before Nov. 1, 2024, are granted additional time to file and will have until Nov. 1, to file returns and pay any taxes that were originally due during this period. The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief, but affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at 866-562-5227 to request this tax relief. To learn more, click here.