IRS DISASTER RELIEF FOR TAXPAYERS AFFECTED BY HURRICANE HELENE

IMPORTANT NOTICE ON FILING RELIEF AND DEADLINE EXTENSIONS

The Internal Revenue Service (IRS) has announced tax relief to those individuals and businesses affected by Hurricane Helene. Taxpayers now have until May 1, 2025 to file various federal individual and business tax returns, including making estimated tax payments.

The tax relief further postpones deadlines for individuals and businesses affected by Hurricane Helene in the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee, and Virginia beginning on September 22, 2024 through May 1, 2025. Individuals that reside or have a business in one of the Federal Emergency Management Agency (FEMA) designated counties qualify for the relief. The IRS identifies those taxpayers qualified by the address on record. Please visit www.fema.gov for a complete list of counties in the qualified disaster area. It is important to note the relief is extended to those who live outside the disaster relief area, but have records necessary to meet a deadline located in the area. CS&L CPA locations reside in counties that qualify for the extended due date of May 1, 2025.

The combined Hurricane Debby and Hurricane Helene filings and payments now due May 1, 2025:

• 2023 individual tax returns with a valid 2023 extension due October 15, 2024 (relief does not apply to any tax due with the return filing as these payments were due on or before April 15, 2024).
• Quarterly estimated income tax payments due September 16, 2024, January 15, 2025, and April 15, 2025.
• Quarterly payroll tax returns due October 31, 2024, January 31, 2025 and April 30, 2025.
• 2023 calendar year partnerships and s-corporations due September 16, 2024.
• 2023 calendar year trusts due September 30, 2024.
• 2023 calendar year corporations due October 15, 2024.
• 2023 calendar year tax exempt organizations due November 15, 2024.
• Fiscal year entity returns with an original or extended due date between August 1, 2024 and before May 1, 2025.
• 2024 calendar year partnerships and s-corporations due March 17, 2025.
• 2024 individual tax returns due April 15, 2025.
• 2024 calendar year trusts due April 15, 2025.
• 2024 calendar year corporations due April 15, 2025.

The Florida Department of Revenue has announced it will follow the tax relief granted by the IRS for affected taxpayers. Taxpayers who file Florida Corporate Income Tax Returns with original due dates between August 1, 2024 and May 16, 2025 will now have a due date of May 16, 2025.