| ||||||||||
Dr. Ronald P. Rogers CHIROPRACTOR Support for your body's natural healing capabilities 270-384-5554 Click here for details Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig Visit ColumbiaMagazine's Directory of Churches Addresses, times, phone numbers and more for churches in Adair County Find Great Stuff in ColumbiaMagazine's Classified Ads Antiques, Help Wanted, Autos, Real Estate, Legal Notices, More... |
Taylor Co. included in tornado tax-relief measures By Jill Midkiff Frankfort, KY - Governor Andy Beshear on Thursday announced that the Kentucky Department of Revenue (DOR) will honor the recently announced IRS special tax relief for taxpayers in any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance due to the tornados that caused extensive damage in parts of Western Kentucky and surrounding areas on Dec. 10-11, 2021. Under the provisions of KRS 131.081(11), Kentucky honors federal extensions related to disaster relief for filing of income tax returns, including payment of tax due. This extension to file and pay taxes does not apply to sales tax and other type of taxes. However, taxpayers with disaster-related delays who are seeking filing extensions or have been assessed penalties for taxes other than income may contact DOR to request an extension or a waiver of penalties. Individuals and households affected by severe storms, tornados and flooding who reside or have a business in Caldwell, Fulton, Graves, Hopkins, Marshall, Muhlenberg, Taylor and Warren counties qualify for this tax relief. DOR will provide the same relief to any additional counties designated by FEMA in Kentucky or neighboring states. This extension allows affected taxpayers until May 16, 2022 to file Kentucky income tax returns and submit tax payments for individual income tax, corporate income tax, income tax withholding, and limited liability entity tax. For instance, certain deadlines falling on or after Dec. 10, 2021 are postponed through May 16, 2022. This includes the April 18, 2022 deadline for filing 2021 individual and business income tax returns and paying any tax due. The May 16, 2022 deadline also applies to the fourth quarter 2021 estimated tax payment of income tax, normally due on Jan. 18, 2022, and the first quarter 2022 payment normally due on April 18, 2022. "At a time of such unimaginable loss, we want to eliminate any unnecessary burdens so that our people can take care of their loved ones and get their lives back on track," said Gov. Beshear. "This extension allows taxpayers affected by these devasting storms additional time to submit their quarterly payments due, as well providing an extension on filing their 2021 returns. Among other things, this also means that individual taxpayers can skip making the fourth quarter estimated tax payment, normally due Jan. 18, 2022, and instead include it with the 2021 return they file, on or before May 16, 2022." Late filing and payment penalties will be waived for those affected taxpayers seeking this relief. Kentucky's tax laws have no provision for the waiver of interest. Taxpayers are advised to label the top margin of the tax forms filed under this relief provision in large, red letters with the words "Kentucky Tornado Relief." Taxpayers requiring additional information or assistance on individual income taxes may contact the Department of Revenue at (502) 564-4581. Sales and Use tax refunds, filing extension The federal disaster declaration also activates the provisions of KRS 139.519, which provides for a refund of Kentucky sales and use tax paid for building materials permanently installed in the repair or replacement of structures damaged in counties covered under a federal disaster relief declaration. Refunds apply to purchases made on or after Dec. 12, 2021, the date of the Federal disaster declaration for individual relief. Applicants have three years from the date the area is declared a federal disaster to submit their refund claims to the Kentucky Department of Revenue. Kentucky Administrative Regulation 103 KAR 31:170 provides guidelines for how to submit a refund request with the required proper documentation. The applicable forms for property owners for completed repairs or reconstruction of buildings damaged or destroyed in the disaster areas are available here: revenue.ky.gov (PDF). Individuals in need of more personalized assistance may call 502-564-5170 and select Option 1. DOR will also provide a 30-day extension on the filing of returns for sales and excise taxes along with waivers of any penalty for late filings and payments related to the current disaster impact. Any taxpayers seeking extensions for sales and use taxes may contact the Sales and Use Tax Division at (502) 564-5170. Lost tax records Individuals and businesses that lost tax records as a result of the tornado and associated storm damage may request replacement copies from DOR. Instructions for how taxpayers may request income tax returns is available on DOR's website. Taxpayers requiring additional information or assistance on individual income taxes may contact the Department of Revenue at (502) 564-4581 or contact us online. For questions related to Corporation Income Tax and Pass-through Entities, contact (502) 564-8139. This story was posted on 2021-12-17 07:49:55
Printable: this page is now automatically formatted for printing.
Have comments or corrections for this story? Use our contact form and let us know. More articles from topic News:
COVID-19 News Brief & Vaccination Update 12/16/2021 Governor urges job seekers to consider telecommunications Rainy start to the weekend, chance of storms, high 63F 7-County Area Courts for Fri 17 Dec 2021 EWDC releases November 2021 Unemployment Report COVID-19 News Brief & Vaccination Update 12/15/2021 Windy today, afternoon showers likely, high 66F 7-County Area Courts for Thu 16 Dec 2021 Adair Co. Fair Christmas Drive AG warns of natural disaster scams View even more articles in topic News |
|
||||||||
| ||||||||||
Quick Links to Popular Features
Looking for a story or picture? Try our Photo Archive or our Stories Archive for all the information that's appeared on ColumbiaMagazine.com. | ||||||||||
Contact us: Columbia Magazine and columbiamagazine.com are published by Linda Waggener and Pen Waggener, PO Box 906, Columbia, KY 42728. Please use our contact page, or send questions about technical issues with this site to webmaster@columbiamagazine.com. All logos and trademarks used on this site are property of their respective owners. All comments remain the property and responsibility of their posters, all articles and photos remain the property of their creators, and all the rest is copyright 1995-Present by Columbia Magazine. Privacy policy: use of this site requires no sharing of information. Voluntarily shared information may be published and made available to the public on this site and/or stored electronically. Anonymous submissions will be subject to additional verification. Cookies are not required to use our site. However, if you have cookies enabled in your web browser, some of our advertisers may use cookies for interest-based advertising across multiple domains. For more information about third-party advertising, visit the NAI web privacy site.
|