IRS Extends Tax Deadlines for Storm Victims in Connecticut, New York, and Louisiana

In the aftermath of severe storms and flooding, the IRS has extended relief to affected taxpayers in Connecticut, New York, and Louisiana. The new tax relief allows more time to file tax returns and make payments for those impacted by these natural disasters.

Relief for Connecticut and New York Storm Victims

The IRS has postponed various tax deadlines for individuals and businesses in designated areas of Connecticut and New York that were affected by severe storms and flooding. Residents of these areas will now have until February 3, 2025, to file individual and business tax returns that were originally due after September 13, 2023.

Some of the key provisions of this tax relief include:

• Filing Extensions: Individuals who had a valid extension to file their 2022 return, due on October 16, 2023, now have until February 3, 2025, to file. However, tax payments related to 2022 returns that were due on April 18, 2023, are not eligible for this relief.
  

• Quarterly Estimated Tax Payments: The quarterly estimated tax payments, normally due on September 15, 2023, and January 16, 2024, are now extended to February 3, 2025.
  

• Business Tax Deadlines: Business owners, including calendar-year partnerships and S-corporations with extensions due on September 15, 2023, and corporations with extensions due on October 16, 2023, also have until February 2025 to file.

Relief for Louisiana Storm Victims

The IRS has granted similar relief to all of Louisiana in response to damage from Hurricane Idalia and other storms. All deadlines that would normally fall between August 27, 2023, and February 3, 2025, have been extended for those in Louisiana.

The provisions include:

• Individual and Business Filings: The February 3, 2025, deadline applies to a variety of returns, including individual income tax returns, corporate income tax returns, and those for estates and trusts.
  

• Estimated Payments: Individuals and businesses can postpone their quarterly estimated tax payments until February 3, 2025.
  

• Payroll and Excise Taxes: Penalties on payroll and excise tax deposits due on or after August 27, 2023, and before September 11, 2023, will be abated as long as the deposits were made by September 11, 2023.

Additional Details for Affected Taxpayers

This relief is automatic, meaning that taxpayers in the covered areas do not need to contact the IRS to receive it. However, if a taxpayer in one of the designated disaster areas receives a late filing or late payment notice for a deadline falling within the postponement period, they should call the IRS to have the penalty abated.

For those outside the federally declared disaster areas, affected taxpayers who qualify for relief can still request it by contacting the IRS directly. Furthermore, taxpayers who were impacted by these storms but are located outside of the declared disaster zones can file for relief if they can prove storm-related hardship.

Conclusion

The IRS tax relief for storm victims in Connecticut, New York, and Louisiana is intended to provide much-needed breathing room as they recover from these natural disasters. The extended deadlines ensure that both individuals and businesses have time to manage their recovery without the added pressure of meeting immediate tax obligations. For more information, visit the IRS website and look up the specific disaster declarations for each state.

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Disclaimer: This article is for informational and educational purposes only and does not constitute legal tax advice. Advanced Tax Solutions is not liable or responsible for any damages resulting from or related to your use of this information. It is your responsibility to refer to official IRS documentation for information regarding any tax laws or tax information shown here.