State and Federal tax extensions granted for 3 Arkansas counties
Little Rock, Arkansas – Many people experienced recovery delays as a result of the devastating tornadoes that struck central and eastern Arkansas, but one delay that was recently approved for Arkansans may be well worth the wait for some.
On April 10, Governor Sanders issued an executive order extending the deadline for reporting state taxes until July 31.
Regardless of whether you sustained tornado damage, Cross, Lonoke, and Pulaski County residents can now file taxes until July 1, 2023.
Tax preparation firms like Liberty Tax assert that they are prepared to assist in any manner they can.
“That is an extension to file, that is not an extension to pay,” Liberty Tax District Manager LaTasha McKinney said. “So, you want to make sure, even for those who were not affected by it. If you’re not quite ready, go ahead and file a federal extension any way that will give you until Oct 15.”
According to Scott Hardin with the Arkansas Department of Finance and Administration, many people in those counties may not be aware that they are exempt from filing on Tuesday.
“And certainly, when we’re talking about people that are trying to recover from the storm, people that are rebuilding their houses,” Hardin said. “Just trying to get their lives back in order, the last thing they need to worry about right now is whether they get their tax returns in on time.”
For Arkansans living outside of those three counties, according to Hardin, there might also be a choice.
“For the rest of the state, you do have the option of requesting an extension there also. It’s a simple form on the IRS website,” Hardin said. “If you do that on the federal level, then state automatically honors that on a state level.”
Hardin advises keeping in mind that there are consequences for both late filing and late payment. A five percent failure to file penalty is imposed on people who submit their returns after the deadline but still owe the state money.