Dear Clients and Friends,
We are writing to share important information released this past week by the Internal Revenue Service and the Missouri Department of Revenue providing tax relief for individuals and businesses in parts of Missouri that were affected by severe storms, straight-line winds, tornadoes, and wildfires that began on March 14, 2025. These taxpayers now have until Nov. 3, 2025, to file various federal and Missouri individual and business tax returns and make tax payments.
Note, at this time, the IRS and Missouri relief does not apply to residents of St. Charles County or the City of St. Louis.
IRS release MO-2025-02:
Following the disaster declaration issued by the Federal Emergency Management Agency (FEMA), individuals and households that reside or have a business in Bollinger, Butler, Callaway, Camden, Carter, Dunklin, Franklin, Howell, Iron, Jefferson, Madison, New Madrid, Oregon, Ozark, Perry, Phelps, Reynolds, Ripley, Scott, Shannon, St. Louis County, Stoddard, Wayne, Webster, and Wright counties qualify for tax relief. The same relief will be available to any other counties added later to the disaster area.
Key Details:
- Tax Relief for Missouri: IRS and Missouri Department of Revenue grants tax relief to individuals and businesses in counties affected by severe storms, tornadoes, and wildfires starting March 14, 2025.
- Extended Deadlines: Affected taxpayers now have until Nov. 3, 2025, to file most federal returns and make payments due between March 14 and Nov. 3, 2025.
- Covered Areas: Includes 25 Missouri counties (e.g., St. Louis, Jefferson, Bollinger); other counties may be added later.
- Relief Applies To:
- 2024 individual income tax returns (originally due April 15, 2025)
- Estimated tax payments due April 15, June 16, and Sept. 15, 2025
- 2024 partnership and S corp returns (originally due March 17, 2025)
- 2024 corporation and fiduciary returns (originally due April 15, 2025)
- 2024 tax-exempt organization returns (originally due May 15, 2025)
- Quarterly payroll and excise tax returns
- Form 5500 series and like-kind exchange deadlines
- Automatic Relief: IRS will automatically apply relief for those in disaster areas; others must call IRS at 866-562-5227.
- Missouri does not automatically apply extensions, therefore, the taxpayer will need to file Form MO-60 or Form MO-7004 and write “disaster extension to November 3, 2025” or contact MO DOR if filing electronically.
- Casualty Loss Deductions: Can be claimed on 2024 or 2025 returns; FEMA disaster number 4867-DR should be included.
- Installment Agreements: Will not default if payments missed during relief period; interest and penalties still accrue.
- Additional Relief:
- Free copies of prior tax returns (with FEMA number)
- Qualified wildfire relief payments excluded from income
- Special IRA/retirement plan provisions available
- Penalty Abatement: Available for those not eligible under disaster relief if they qualify under reasonable cause.
At this time, the City of St. Louis has yet to announce any similar relief related to City income tax or City earnings tax related to these events.
If you have questions about how these changes affect your specific situation, contact our office to schedule a consultation.
Sincerely,
Abeles and Hoffman, P.C.
