EducationVictims of severe storms, tornadoes and flooding that began on May 18, 2013 in parts of Oklahoma may qualify for tax relief from the IRS.

The President has declared Canadian, Cleveland, Lincoln, McClain, Oklahoma and Pottawatomie counties a federal disaster area. Individuals who reside or have a business in these counties may qualify for tax relief. The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. The tax relief postpones various tax filing and payment deadlines that occurred starting on May 18, 2013. As a result, affected individuals and businesses will have until Sept. 30, 2013 to file these returns and pay any taxes due. This includes the June 17 and Sept. 16 deadlines for making estimated tax payments. A variety of business tax deadlines are also affected including the July 31 deadline for second quarter payroll and excise tax returns and the Sept. 3 deadline for truckers filing highway use tax returns. In addition, the IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after May 18, and on or before June 3, as long as the deposits are made by June 3, 2013.