Taxpayers in areas affected by Hurricane Helene now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments. Among other things, this includes 2023 individuals, trusts and corporate returns with valid extensions and quarterly estimated tax payments.
The IRS is offering this relief to any area designated by the Federal Emergency Management Agency. Besides all of Alabama, Georgia, North Carolina and South Carolina, this currently includes 41 counties in Florida, eight counties in Tennessee and six counties and one city in Virginia.
Individuals and households that reside or have a business in any one of these localities qualify for tax relief. The same relief will be available to other states and localities that receive FEMA disaster declarations related to Hurricane Helene and most likely any states effected by Hurricane Milton scheduled to hit Florida this week. The current list of eligible localities is always available on the Tax relief in disaster situations page on IRS.gov.
Filing and payment relief
The tax relief postpones various tax filing and payment deadlines that occurred beginning on Sept. 22, 2024, in Alabama; Sept. 23 in Florida; Sept. 24 in Georgia; Sept. 25 in North Carolina, South Carolina and Virginia; and Sept. 26 in Tennessee. In all these states, the relief period ends on May 1, 2025 (postponement period). As a result, affected individuals and businesses will have until May 1, 2025, to file returns and pay any taxes that were originally due during this period. This means, for example, that the May 1, 2025, deadline will now apply to:
- Any individual or business that has a 2024 return normally due during March or April 2025.
- Any individual, business or tax-exempt organization that has a valid extension to file their 2023 federal return. The IRS noted, however, that payments on these returns are not eligible for the extra time because they were due last spring before the hurricane occurred.
- 2024 quarterly estimated income tax payments normally due on Jan. 15, 2025, and 2025 estimated tax payments normally due on April 15, 2025.
- Quarterly payroll and excise tax returns normally due on Oct. 31, 2024, and Jan. 31 and April 30, 2025. – Note this does NOT apply to W-2s and 1099s or normal payroll deposits.
As always, BGC wishes to provide the best service possible. We will continue to get the extended 2023 filings completed as soon as we possibly can. Our goal is to have the 2023 returns filed before November 20,2024, as the IRS efiling service will shut down until end of January to reprogram the computers for 2024 filings. We do not wish to hold over returns or file on paper unless necessary.