Tuesday January 21, 2020
Blizzard Disaster Relief
The blizzard brought winds of up to 89 mph (Hemingford, Nebraska) and as much as a foot of snow. Interstate 80 was closed from Kearney, Nebraska to the Wyoming border.
After the storm passed, there was severe flooding of the Platte, Elkhorn and Missouri rivers. Many cities in eastern Nebraska and western Iowa experienced flooding.
In NE-2019-02 and IA-2019-02, the IRS declared disaster relief status for Butler, Cass, Colfax, Dodge, Douglas, Nemaha, Sarpy, Saunders and Washington counties in Nebraska and Fremont, Harrison, Mills, Monona and Woodbury counties in Iowa.
Nebraska residents in the affected counties may generally defer tax filing deadlines between March 9 and July 31 of this year to July 31, 2019. Iowa residents in impacted counties may delay their filing deadlines from March 12 to July 31 of this year to July 31, 2019.
The tax relief covers filing, payments and estimated tax payments. Individuals who are making IRA contributions also have until July 31, 2019 to maximize their 2018 IRA funding.
Victims in the Nebraska and Iowa counties may also deduct a casualty loss. Taxpayers who are in a federally-declared disaster zone are permitted to deduct losses in either the 2018 or 2019 tax year.