Tax Relief Following State of Israel Terrorist Attacks
Taxpayers impacted by terrorist attacks on the State of Israel have extended tax filing and payment deadlines.
The IRS has announced tax relief for taxpayers impacted by the Oct. 7 terrorist attacks against the State of Israel. The announcement comes only three days before the Oct. 16 tax deadline for those who requested a federal filing extension for last year’s taxes. Eligible taxpayers now have until Oct. 7, 2024, to file these returns. The IRS has also extended certain other tax filing and payment deadlines.
On Saturday, Oct. 7, the State of Israel was attacked by Hamas. The attacks have resulted in more than 1,300 reported deaths, including at least 14 Americans. More than 100 people, including 17 Americans, remain missing as of Thursday.
During a briefing Tuesday, President Biden said the United States "will make sure Israel has what it needs to take care of its citizens, defend itself, and respond to this attack."
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
State of Israel tax relief
For its part, the IRS announced that eligible taxpayers now have until Oct. 7, 2024, to file certain tax returns and make certain tax payments that were originally due between Oct. 7, 2023, and Oct. 7, 2024.
These extensions include (but might not be limited to) the following:
- Taxpayers with an original tax filing extension of Oct. 16, 2023 now have until Oct. 7, 2024 to file 2022 federal tax returns. (Taxes owed for 2022 returns were due April 18, so the tax relief does not extend these payments.)
- Individual and business tax returns and payments originally due on March 15 and April 15, 2024 are now due Oct. 7, 2024.
- Quarterly estimated income tax payments originally due on Jan. 16, April 15, June 17 and Sept. 16, 2024 are now due Oct. 7, 2024.
- Taxpayers now have until Oct. 7, 2024 to contribute to retirement accounts.
Who qualifies for tax relief?
According to the IRS, the following taxpayers qualify for tax relief. However, additional relief may be announced in the future.
- Individuals whose principal residence or business entity or sole proprietor whose principal place of business is in Israel, the West Bank, or Gaza
- Any individual, business or sole proprietor, or estate or trust whose books, records, or tax preparer is located in the covered area
- Anyone killed, injured, or taken hostage due to the terrorist attacks
- Those affiliated with a recognized government or philanthropic organization and who are assisting in the covered area
The IRS will automatically grant relief to eligible taxpayers. However, if you qualify for relief but live outside the disaster area, you can contact the IRS disaster hotline at 1-866-562-5227.
Some taxpayers impacted by the terrorist attacks may receive a late filing or payment notice. This can happen if the IRS doesn't have a record of you living in the affected area (for example, if you recently moved). In this case, taxpayers should call the number on the notice for relief.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Katelyn has more than 6 years of experience working in tax and finance. While she specialized in tax content while working at Kiplinger from 2023 to 2024, Katelyn has also written for digital publications on topics including insurance, retirement, and financial planning and had financial advice commissioned by national print publications. She believes knowledge is the key to success and enjoys providing content that educates and informs.
-
Stock Market Today: Stocks Pause as Investors Assess Fed Policy
The Federal Reserve met expectations with a quarter-point rate cut.
By David Dittman Published
-
Fed Cuts Rates Again: What the Experts Are Saying
Federal Reserve The central bank continued to ease, but a new administration in Washington clouds the outlook for future policy moves.
By Dan Burrows Published
-
Two Consequential Tax Cases You May Not Have Heard About
The Supreme Court's decisions in these cases create uncertainty about challenging IRS regulations and guidance. Expect more litigation to follow.
By John M. Goralka Published
-
Sometimes It Pays to 'Blow the Whistle' on IRS Tax Evaders
Tax Fraud The IRS recently awarded three IRS whistleblowers $74 million. Here's why.
By Kate Schubel Published
-
The Big CPA Shortage Problem in Accounting
Career This once resilient accounting industry is cracking, as the labor force seems in dire straits. It’s also affecting the IRS.
By Gabriella Cruz-Martínez Last updated
-
IRS Skirts TikTok Ban to Sniff Out Tax Scammers
Tax Scams Social media scams caused thousands to file inaccurate returns. What does that have to do with TikTok?
By Kate Schubel Published
-
Who Does the IRS Audit the Most?
Audits The IRS has a $400K audit directive problem. Here’s what you need to know.
By Kelley R. Taylor Last updated
-
IRS Hauls Back $1.3 Billion From High-Income Earners
Tax Filing Certain income and wealth levels can trigger an IRS audit. Here's what you need to know.
By Kate Schubel Published
-
Incorrect ERC? IRS Points to Five New Red Flags
Tax Credits These signs could mean there’s an error in your Employee Retention Credit claim.
By Gabriella Cruz-Martínez Published
-
IRS Has No Set Plan to Replace Old Tech
IRS What could old IRS technology mean for your federal tax return and cybersecurity?
By Kate Schubel Published