If you’ve been impacted by a hurricane, like Hurricane Debby or the more recent Hurricane Helene, I want to make sure you’re aware of the tax relief that’s available to help ease some of the burden during this difficult time. Whether you live in Alabama, Georgia, North Carolina, South Carolina, or parts of Florida, Tennessee, and Virginia, the IRS is offering disaster tax relief to help individuals and businesses get back on their feet.

For those affected by Hurricane Debby, the IRS has already granted extensions on various filing and payment deadlines. This relief includes individuals and businesses located in the disaster areas, along with those whose records are maintained within those areas. The key here is that even if you aren’t physically in the disaster zone but your tax preparer or records are, you may still qualify for the extension.

Now, with Hurricane Helene, the IRS has issued updated guidance extending deadlines even further for those affected by either storm. The relief applies to anyone in areas designated by FEMA as disaster zones, which includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, along with specific counties in Florida, Tennessee, and Virginia. If your home, business, or records are in one of these areas, this relief is for you. And don’t worry, if more areas are added to the FEMA list, they’ll automatically qualify too.

Key Deadlines Extended

Now, the IRS has pushed the tax filing and payment deadline to May 1, 2025, for anyone affected by Hurricane Helene. Here’s what that includes:

• 2024 individual and business tax returns normally due in March or April 2025.
• 2023 returns for individuals and businesses that had extensions.
• Quarterly estimated tax payments that were due in January and April 2025.
• Quarterly payroll and excise tax returns due in October 2024, January 2025, and April 2025.

This extension gives you more time to file your returns and make payments without worrying about penalties or interest piling up. However, Rose Group CPAs need to limit the extended deadline to November 15, 2024 only. The current list of eligible localities is always available on the Tax relief in disaster situations page on IRS.gov.

For businesses, there’s more good news. The IRS is also offering penalty relief for payroll and excise tax deposits. However, the details vary depending on the state, so it’s a good idea to check the IRS website for specifics or give us a call to talk it through.

Don’t Forget: This Also Applies to Hurricane Debby Victims

If you were previously granted tax relief because of Tropical Storm Debby, your deadlines have been further extended to May 1, 2025, as well. So, if you’ve already been working with the IRS on these extensions, rest assured that you have extra time.

One great thing about this relief is that it’s automatic. If your IRS address of record is in the disaster area, you don’t need to do a thing—the extensions are applied without you having to contact the IRS.

However, if you’ve recently moved into the affected area or your tax preparer was impacted by the hurricane, you might need to take an extra step. If you receive a penalty notice, just call the number on the letter to request abatement. The IRS is also willing to work with you if your tax records were in the affected area, even if you’re living outside the disaster zone.

What Should You Do Next?

If you’ve been impacted by either storm, take advantage of these extensions to make sure your tax filings are accurate and stress-free. However, don’t wait too long. It’s important to stay organized and plan ahead, especially if you’ll need time to gather records or consult with us about your specific situation. We do not want this to roll into the holiday season or the 2024 tax preparation season. We have breathing room on the October 15 deadline but need to complete returns by early November due to scheduling conflicts.

If you have any questions about how this relief affects you or your business, or if you need help navigating your tax filings, don’t hesitate to reach out, we’re just a call or email away. At Rose Group CPAs, we’re here to make sure you’re supported and ensure your tax filings go smoothly. We’re always available to assist with any questions you may have and guide you through the process.