IRS Extends Tax Relief for Hurricane Helene Victims Across Seven States

The Internal Revenue Service (IRS) has announced significant tax relief measures for individuals and businesses affected by Hurricane Helene.

The relief extends to seven states, including the entirety of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia.

Extended Deadlines

Taxpayers in the designated disaster areas now have until May 1, 2025, to file various federal tax returns and make tax payments. This extension applies to:

2024 individual and business tax returns normally due in March or April 2025
2023 tax returns with valid extensions
Quarterly estimated income tax payments due on January 15 and April 15, 2025
Quarterly payroll and excise tax returns due on October 31, 2024, January 31, and April 30, 2025

Disaster Losses

The IRS is offering flexibility for claiming disaster-related losses. Affected taxpayers can choose to claim these losses on either their 2023 or 2024 tax returns. Individual taxpayers have until October 15, 2025, to make this decision.

Automatic Relief

Tax relief is automatically provided to taxpayers with an IRS address of record in the disaster area. These individuals do not need to contact the agency to receive this relief.

Additional Considerations

Penalties for failing to make payroll and excise tax deposits will be abated
Taxpayers must write the FEMA declaration number on returns claiming losses
Those outside the disaster area who require relief must contact the IRS at (866) 562-5227

State-Specific Relief Periods

The tax relief applies from the following dates, depending on the state:

IRA and HSA Considerations

The relief also extends to deadlines for individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and Coverdell Education Savings Accounts (CESAs).

Exclusions from Relief

It’s important to note that the postponement does not apply to certain information returns, including W-2, 1094, 1095, 1097, 1098, or 1099 series; Forms 1042-S, 3921, 3922 or 8027; or to employment and excise tax deposits.

This comprehensive tax relief package aims to provide crucial support to those impacted by Hurricane Helene, allowing them to focus on recovery efforts without the added stress of immediate tax obligations.

FAQs

Who qualifies for this tax relief?

Taxpayers in designated disaster areas in Alabama, Georgia, North Carolina, South Carolina, and parts of Florida, Tennessee, and Virginia.

What is the new deadline for filing taxes?

May 1, 2025, for various federal tax returns and payments.

Can I claim Hurricane Helene losses on my tax return?

Yes, you can claim uninsured or unreimbursed losses on either your 2023 or 2024 tax return.

Do I need to contact the IRS to receive this relief?

No, relief is automatic for those with an IRS address of record in the disaster area.