The IRS and the Nebraska Department of Revenue have released additional details on the areas approved for disaster relief and the available assistance as a result of the recent flooding.

Federal relief is currently approved for 15 counties and the Santee Sioux Nation in Nebraska.  Five counties in Western Iowa have also been approved for assistance.  The tables and maps listed below reflect the approved areas.

As a result of the Disaster Declarations, the following tax relief is available:

  • IRS: Taxpayers in the declared disaster counties can delay filing returns and the payment of taxes until July 31, 2019. This deferral is available for returns and payments due between March 9, 2019 (Nebraska) / March 12, 2019 (Iowa) and before July 31, 2019.  This includes estimated tax payments for the 1st and 2nd quarters of 2019.  No penalties or interest will be charged as a result of these deferrals. with no charges for penalties or interest.
  • Iowa: Same as IRS
  • Nebraska: Taxpayers in the declared disaster counties are allowed the same extensions to file returns and pay taxes as provided by the IRS. However, this relief is only available to taxpayers who were subject to either a Mandatory or Voluntary Evacuation. This relief only applies to returns filed with the Nebraska Department of Revenue.

The declared disaster areas in Nebraska may be expanded for both Federal and state purposes.  The IRS also has the authority to extend the deferral period to up to 12 months after the disaster. 

Additional aspects to consider if you were impacted by the floods include:

  • An election can be made to claim casualty loss from the floods as either a 2018 or 2019 tax loss.
  • If you intend to utilize the extended periods to file and/or pay, it is recommended an extension be filed to minimize potential complications.

Our hearts go out to those affected by the flooding both directly and indirectly. If we can be of assistance in working through the tax issues, please give us a call at 402-391-1065.

Nebraska Counties and Zip Codes Declared Disaster Areas- April 3, 2019

For the official release from the Nebraska Department of Revenue click here.

Iowa Counties Declared Disaster Areas- March 25, 2019

For the official release from the Iowa Department of Revenue click here.