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Level 2
posted Mar 25, 2023 11:50:32 AM

Live in an active declared disaster area. Any interest on taxes owe?

Hello TT Community!

 

I'm currently residing in an active declared disaster area: https://www.fema.gov/locations/california which means that the extension for filing is Oct 16th instead of April 18th.

 

I've started on filing my taxes in TurboTax and haven't submitted yet. I have taxes owe. Does the extension here also imply that interest and fees will not incur until after Oct 16th? Or does interest start at original filing date (April 18th) and if I have file in Oct 16th I will have to pay the interest starting on that date?

 

Thank you!

0 1 198
1 Best answer
Expert Alumni
Mar 25, 2023 12:07:07 PM

Yes, since tax payment deadline is extended until October 16th for certain disaster areas,  you won't be assessed interest on any tax due until after that date.

 

Here's more detailed info from the IRS.

 

@Nmotion 

 

 

1 Replies
Expert Alumni
Mar 25, 2023 12:07:07 PM

Yes, since tax payment deadline is extended until October 16th for certain disaster areas,  you won't be assessed interest on any tax due until after that date.

 

Here's more detailed info from the IRS.

 

@Nmotion