Good news for Hurricane Debby victims! The IRS has announced an extension on tax deadlines for individuals and businesses affected by the storm, giving them extra time until February 3, 2025, to file their federal tax returns and make payments.
Taxpayers in parts of South Carolina, North Carolina, Florida, and Georgia can now breathe a sigh of relief. The relief is particularly crucial for returns and payments due from early August onwards, with the new filing deadline applying to any eligible entity that has an extension for their 2023 returns.
It’s essential to note that while filing deadlines are extended, payments due before the hurricane struck last spring don’t qualify for this relief. However, quarterly estimated income tax payments set for September 16 and January 15, along with payroll and excise tax returns due on October 31 and January 31, are now included in this extension.
In Florida, penalties for late payroll and excise tax deposits made between August 1 and August 16 can be waived, provided deposits are made by the 16th. Similarly, South Carolina and Georgia have the same grace period for deposits due in early August, and North Carolina follows suit with its own deadlines.
To qualify for these extended deadlines, individuals and businesses must reside in areas identified by FEMA as impacted. In South Carolina, all 46 counties are included. In Florida, victims from 61 specific counties, such as Alachua, Brevard, and Duval, are eligible. Meanwhile, 55 counties in Georgia and 66 counties in North Carolina also fall under these tax relief provisions.
If you’re in an eligible area, rest assured the IRS will automatically grant this relief—just ensure your contact information with them is up to date. If you believe you should qualify for relief but live outside the declared disaster areas, reach out to the IRS at 866-562-5227.