Effective as of September 15th, all individuals and businesses affected by Hurricane Florence have until January 31st, 2019 to file their tax return. In order to qualify for this extension, an individual or business must be located in one of the many areas designated by the Federal Emergency Management Agency (FEMA).
Inside Federal Disaster Area
For those located in these federally declared areas, the IRS notification allows the following extensions for:
- All individual taxpayers with a valid extension to file their 2017 taxes
- Businesses and Calendar-Year Partnerships on a valid extension prior to Sept. 17, 2018
- Quarterly Estimated Income Tax Payments (due on Sept. 17, 2018 & Jan. 15, 2019)
- Quarterly Payroll and Excise Tax Returns (typically due on Oct. 31, 2018)
The IRS will also suppress all penalties on late payroll and excise tax deposits that may have been due between the dates of Sept. 7th and Sept. 24th, 2018. Individuals and businesses are also able to claim uninsured or unreimbursed disaster-related losses on their 2018 tax return, or on their 2017 return (if within IRS standards). To find out what will benefit you the most, contact us at email@example.com.
Outside Federal Disaster Area
For those who are outside of the federally declared disaster area, but have been affected by Hurricane Florence, the IRS will still assist you in the event that you may need to postpone any submissions. There is also applicable to those who may be working in the recovery efforts. To find out more, contact the IRS at (866) 562-5227.
The following links have been provided by the IRS to assist those recovering from Hurricane Florence.
Help for Victims of Hurricane Florence
Disaster Assistance and Emergency Relief
As always, our staff of professional accountants and advisors stand ready to assist you with any questions you may have regarding your taxes. If you are an individual or business affected by Hurricane Florence and have questions, contact us today for a free consultation.