The Internal Revenue Service announced that it would not require an October 15 deadline for filing 2023 taxes for certain taxpayers with valid extensions who were affected by natural disasters. The purpose of this article is to give insight into the affected areas, the new deadlines, and what this means to the taxpayer.
Areas affected and new deadline
The Internal Revenue Service provided tax relief to individuals and businesses in states affected by severe storms, flooding, and other natural disasters that occurred in 2024. These taxpayers now have new deadlines, which extend beyond the usual October 15 date:
- Hawaii: The IRS extended deadline for filing returns and making payments in Maui and Hawaii counties.
- Iowa: The IRS extended deadline for filing taxes owed and making payments in the counties of Clarke, Harrison, Mills, Polk, Pottawattamie, Ringgold, Shelby, and Union.
- Ohio: Taxpayers in the following counties have an extension to file and pay taxes: Auglaize, Crawford, Darke, Delaware, Hancock, Licking, Logan, Mercer, Miami, Richland, Union.
- Oklahoma: Taxpayers in the following counties have an extension to pay taxes, Craig, McClain, Nowata, Ottawa, Coal, Haskell, Kay, Lincoln, Okfuskee, Pottawatomie, Washington, Johnston, Pittsburg, Tillman, Cotton, Washita, Osage, Pontotoc, and Okmulgee.
- Texas: Taxpayers in certain counties affected by severe storms, straight-line winds, tornadoes, especially counties affected by hurricane Beryl have been given extensions.
- Connecticut: This tax relief is for the residents of New London County, including the Mohegan Tribal Nation and the Mashantucket Pequot Tribal Nation.
The new set date for payment of 2023 tax by the IRS is February 3, 2025 for counties affected by natural disasters.
Taxpayers implication
The extended deadlines offer great relief to the taxpayers who were affected by natural disasters. The IRS will give such individuals and businesses extra time to file and pay taxes, hence helping in curtailing the financial and administrative burdens being faced by this lot.
Worth noting, however, is that these time extensions apply to specific counties and periods. Hence, for taxpayers who remain unclear with regard to eligibility, the IRS disaster relief website would be a good starting point to get the latest updates.
Additionally, while the extensions provide more time to file and pay taxes, it is still necessary to submit a tax return or make any required payments as soon as possible to avoid interest and penalties. The Internal Revenue Service encourages any individuals who need a further filing extension beyond the Oct. 15 extended deadline to ask for it electronically.
The IRS has issued announcements extending tax filing and payment deadlines for taxpayers located in the areas affected by natural disasters, thereby offering a glimmer of hope to the affected people. Additional time and flexibility from the IRS will suffice to ensure that these individuals and businesses are able to recover without additional strain from tax obligations.
