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The IRS has announced tax relief for individuals and businesses in multiple states impacted by recent disasters. This includes those affected by Hurricane Debby and severe storms in various regions.
Hurricane Debby Relief
Taxpayers in South Carolina, North Carolina, Florida, and parts of Georgia can now benefit from extended tax deadlines. The IRS has set February 3, 2025, as the new deadline for filing and payment obligations originally due between August 1, 2024, and February 3, 2025. This extension applies to:
South Carolina: All 46 counties
North Carolina: 66 counties
Florida: 61 counties
Georgia: 55 counties
Penalties for late payroll and excise tax deposits during specified periods will be abated if payments are made by set deadlines. Affected individuals and businesses should refer to the IRS for specific details on eligible counties and relief measures.
Severe Storms and Flooding in Minnesota
For those impacted by severe storms and flooding that began on June 16, 2024, in Minnesota, the IRS has also extended tax relief. The deadline for tax filings and payments has been moved to February 3, 2025. This relief covers 25 counties, including Blue Earth, Carver, and St. Louis among others.
The same extension rules apply as with Hurricane Debby, with penalties for certain tax deposits abated if made by specified dates.
Additional Relief Measures
Across all affected areas:
Filing and Payment Extensions: Taxpayers will have until February 3, 2025, to file returns and make payments.
Casualty Losses: Uninsured or unreimbursed disaster-related losses can be claimed on either the 2023 or 2024 return.
Qualified Disaster Relief Payments: Generally excluded from gross income.
Retirement Plans: Special disaster distributions and hardship withdrawals may be available.
Taxpayers living outside the disaster area but whose records are affected should contact the IRS. For further details, including eligibility and filing requirements, visit the IRS Disaster Assistance and Emergency Relief page or contact the IRS directly.
Stay informed and take advantage of these relief options if you're in a designated disaster area. For comprehensive updates, check IRS.gov and other official resources.
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