The Internal Revenue Service (IRS) has announced comprehensive tax relief measures for victims of Hurricane Helene in several southeastern states.
This relief package extends deadlines for various tax-related actions, providing much-needed support to affected taxpayers.
Extended Deadlines
The IRS has postponed most tax-related deadlines until May 1, 2025, for affected taxpayers. This extension applies to a wide range of tax obligations, including:
Income Tax Returns: Corporate and individual extended income tax returns originally due on October 15, 2024.
Non-Profit Organizations: Extended Forms 990 for non-profit organizations, typically due on November 15, 2024.
- Estimated Tax Payments: Quarterly estimated tax payments due on January 15, 2025, and April 15, 2025.
- Payroll and Excise Taxes: Quarterly payroll and excise tax returns normally due on October 31, 2024, January 31, 2025, and April 30, 2025.
It’s important to note that this relief does not apply to extension payments originally due on April 15, 2024.
Affected Areas
The tax relief is available to taxpayers in the following areas:
- Entire States: Alabama, Georgia, North Carolina, and South Carolina.
- Specific Counties: In Florida, Tennessee, and Virginia, the relief is limited to certain counties and municipalities. The IRS may add more counties as FEMA continues to assess damages.
Eligibility and Obtaining Relief
Taxpayers within federally declared disaster areas are automatically identified and granted filing and payment relief based on their ZIP code from the previous year’s tax filing.
Those outside the disaster area but affected by it (e.g., if their records or CPA are in the affected zone) should contact the IRS Disaster Assistance Hotline at 866-562-5227 to request relief.
State and Local Tax Considerations
While many states and localities have announced similar administrative relief for state tax purposes, it’s crucial to note that this may not always align with federal relief, especially for transactional taxes. Taxpayers should consult with State and Local Tax (SALT) experts to ensure all obligations are met timely.
Other Emergency Relief
The IRS has also provided relief for taxpayers affected by other recent emergencies, including:
- Extended deadlines for 2023 tax year returns in various states affected by natural disasters.
- Special relief for those affected by terrorist attacks in Israel, with deadlines extended to September 30, 2025.