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The IRS has extended (IR 2024-205, IR-2024-209) the due dates for filing individual and business tax returns and making tax payments to February 3, 2025, for taxpayers in five states affected by Hurricane Debby.

The extension applies to taxpayers, including tax-exempt organizations, that reside or have a business in the federally declared disaster areas in Georgia, Florida, North Carolina, South Carolina and Vermont. Taxpayers that are not located in the disaster area but have records there may also qualify for the extension. Taxpayers without a recorded address in the disaster area may still qualify for penalty abatement resulting from a late filing or payment notice. Affected taxpayers should contact the IRS to determine if their circumstances and situation warrant penalty abatement.

The postponement until February 3, 2025, applies to various individual and business filings and payments, including:

• Individuals, businesses and tax-exempt organizations with an extension to file their 2023 federal tax return (payments are not eligible for the February 3, 2025 extended time as they were due on the original due date)
• Quarterly estimated tax payments normally due on September 16, 2024, and January 15, 2025
• Quarterly payroll and excise tax returns normally due on July 31, 2024, October 31, 2024, and January 31, 2025

The IRS will also abate penalties on payroll and excise tax deposits due on or after August 8, 2024 and before August 23, 2024, so long as payment is made by August 23, 2024.

Taxpayers in the federally declared disaster area may claim uninsured or unreimbursed disaster-related casualty losses on their 2023 or 2024 federal income tax return. Taxpayers claiming a disaster loss due to Hurricane Debby should include the FEMA declaration number on the top of the first page of any return claiming a loss.

The IRS also recently extended to February 3, 2025, filing deadlines for taxpayers affected by severe weather events in Kentucky (KY 2024-03), Minnesota (IR 2024-207) and Missouri (MO 2024-14).

Implications

Organizations that are in areas affected by Hurricane Debby or the recent severe weather in Kentucky, Minnesota, and Missouri should verify their eligibility before relying on the extended due date of February 3, 2025. Tax exempt organizations with an address outside the disaster areas may still qualify for relief if they do business or keep records in the affected area; these taxpayers should consult the IRS's disaster relief website and their tax advisors. Relief granted in the wake of Hurricane Debby and other recent severe weather does not include an extension of original payment due dates, so taxpayers should be aware of the original filing due dates to avoid late payment penalties. Organizations should monitor the IRS disaster relief website for changes to impacted geographic areas, extended due dates and potential filing and tax payment implications.