The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia.
Key Hurricane Helene Tax Relief Information
Who qualifies for this relief?
Individuals and households that reside or have a business in any one of these localities qualify for tax relief, including:
- Individuals whose principal residence is located in a covered disaster area and their spouse, if filing jointly.
- Business entities or sole proprietors whose principal place of business is located in a covered disaster area.
- Relief workers affiliated with government or philanthropic organizations assisting in a covered disaster area.
The current list of eligible localities is always available on the Tax Relief in Disaster Situations page on IRS.gov.
Taxpayers located outside a declared area but maintain records, principal place of business, or accountants inside a covered disaster area must self-identify for disaster relief by calling the Disaster Assistance Hotline at 866-562-5227.
Does disaster relief apply to a taxpayer that is not in a disaster area, but the tax preparer is?
Per the IRS website, disaster relief applies to the clients of tax preparers who are unable to file returns or make payments on behalf of the client because of a federally declared disaster.
Therefore, taxpayers may qualify for relief if:
- Their preparer is in the federally declared disaster area, and
- The preparer is unable to file or pay on their behalf.
To receive postponement relief for filing or payment under these circumstances:
- Call the Disaster Hotline at 866-562-5227.
- Explain your necessary records are located in a covered disaster area.
- Provide the FEMA Disaster Number of the area where your tax preparer is located.
Does the relief apply to my ownership interest in a partnership, or if I am a shareholder in an S corporation if the business entities are located in the federally declared disaster area, but I do not live in the disaster area myself?
If the affected partnership or S Corporation cannot provide you with the records necessary to file your return, you are an affected taxpayer. Just like the affected partnership or S corporation, your filing and payment deadlines are postponed until the end of the postponement period.
To get the postponement for filing or payment, you must:
- Call the Disaster Hotline at866-562-5227.
- Explain your necessary records are located in a covered disaster area.
- Provide the FEMA disaster number of the county where the affected partnership or S Corp is located.
What does the filing and payment relief apply to?
The tax relief postpones certain tax filing and payment deadlines that started as early as September 22, 2024, to May 1, 2025.The starting date varies based on when the Hurricane impacted the state and ranges between September 23through September 26.The most common filings and postponements are listed below.
| 2023 Federal Filings | Original Due Date (Assuming Calendar Year Ends) | Extended Due Date If Proper Extension Was Filed | Postponed Date |
|---|---|---|---|
| 2023 Federal 1040 (Individuals) | April, 15, 2024 | October 15, 2024 | May 1, 2025 |
| 2023 Individual Income Tax Payments | April 15, 2023 June 15, 2023 September 15, 2023 January 15, 2024 |
N/A | The IRS noted payments related to 2023 returns are not eligible for the extra time because they were due last spring before the hurricane occurred. |
| 2023 Federal Form 1120 (C Corporations) | April, 15, 2024 | October 15, 2024 | May 1, 2025 |
| 2023 C Corporation Tax Payments | April 15, 2023 June 15, 2023 September 15, 2023 December 15, 2023 |
N/A | The IRS noted payments related to 2023 returns are not eligible for the extra time because they were due last spring before the hurricane occurred. |
| 2024 Federal Filings | Original Due Date (Assuming Calendar Year Ends) | Extended Due Date If Proper Extension Was Filed | Postponed Date |
|---|---|---|---|
| 2024 Federal 1040 | April 15, 2025 | *Postponement date would allow a proper extension until October 30, 2025. | May 1, 2025 |
| 2024 Individual Income Tax Payments | April 15, 2024 June 15, 2024 September 15, 2024 January 15, 2025 |
N/A N/A N/A N/A |
N/A N/A N/A May 1, 2025 |
| 2024 Federal Form 1120 (C Corporations) | April 15, 2025 | *Postponement date would allow a proper extension until October 30, 2025. | May 1, 2025 |
| 2024 C Corporation Tax Payments | April 15, 2024 June 15, 2024 September 15, 2024 December 15, 2024 |
N/A N/A N/A N/A |
N/A N/A N/A May 1, 2025 |
| 2024 Form 1120-S | March 15, 2025 | *Postponement date would allow a proper extension until October 30, 2025. | May 1, 2025 |
| 2024 Form 1065 | March 15, 2025 | *Postponement date would allow a proper extension until October 30, 2025. | May 1, 2025 |
| 2025 Federal Tax Payments | Original Due Date (assuming calendar year ends) | Extended Due Date if Proper Extension was filed | Postponed Date |
|---|---|---|---|
| 2025 Individual Income Tax Payments | April 15, 2025 June 15, 2025 September 15, 2025 January 15, 2026 |
N/A N/A N/A N/A |
May 1, 2025 N/A N/A N/A |
| 2025 C Corporation Tax Payments | April 15, 2025 June 15, 2025 September 15, 2025 December 15, 2025 |
N/A N/A N/A N/A |
May 1, 2025 N/A N/A N/A |
Was there any relief for businesses making payroll and excise tax deposits?
The IRS is also providing penalty relief to businesses that make payroll and excise tax deposits. Relief periods vary by state. Visit the Around the Nation page for details.
My county has been included in an IRS filing delay due to a presidentially declared disaster. How can I determine if an item on a return (such as an election) is also delayed and covered by the postponement?
Rev. Proc. 2018-58, Section 4.03, indicates that the postponement of the filing of a tax return generally automatically postpones the time for making any elections required to be made on the return or attachment thereto or the filing of any form required to be attached to the return. Please review Section 4.03 in the Rev. Proc. 2018-58 to identify specific acts covered by the postponement.
Do you need help determining your federal tax filing deadlines due to Hurricane Helene and making sure you are identifying casualty loss deductions or deferring potential gain on the involuntary conversion of property? Are you interested in making qualified disaster relief payments to your employees? Don’t hesitate to reach out to Withum to help during this difficult time.
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For more information on this topic, please contact a member of Withum’s Business Tax Services Team.
