Last Updated: November 4, 2018 1:45 PM
We hope that our clients and friends have remained safe during this significant weather event. Our thoughts are with all of those who have been affected during and in the aftermath of Hurricane Michael.
IRS Announces Tax Relief for Hurricane Michael Victims
The IRS has extended deadlines that apply to filing tax returns, paying taxes, and performing certain other time-sensitive acts for certain taxpayers affected by Hurricane Michael. The extension applies to deadlines — either an original or extended due date that occurred on or after October 7, 2018, and before February 28, 2019.
Personal casualty losses attributable to certain 2018 federally declared disasters, including Hurricane Michael, may be claimed as a qualified disaster loss.
Who Qualifies for Relief?
Individuals who reside or have a business with an address of record in the area designated by the Federal Emergency Management Agency (FEMA) may qualify for tax relief. This area currently includes the following counties in Alabama, Florida and Georgia:
- Ben Hill
- Jeff Davis
The New U.S. Income Tax Filing and Payment Deadline
The new filing deadline for several IRS U.S. income tax filings and payments — originally due October 7, 2018 — is February 28, 2019. Please note that because tax payments related to these 2017 returns were due on April 18, 2018, those payments are not eligible for this relief.
The February 28, 2019, deadline also applies to:
- quarterly estimated income tax payments due January 15, 2019
- quarterly payroll and excise tax returns normally due October 31, 2018, and January 31, 2019
- tax-exempt organizations operating on a calendar year basis that had a valid extension due to run out on November 15, 2018
- businesses with extensions
- calendar-year corporations whose 2017 extensions run out on October 15, 2018
Additionally, penalties on payroll and excise tax deposits due on or after October 7, 2018, and before October 22, 2018, will be abated as long as the deposits are made by October 22, 2018.
Additional Help and Resources
As your rebuilding begins, we wish you, your family, and your business a healthy and speedy recovery. Please contact your local CRI professional if we can help you in any way.
*The extension deadlines will apply to all clients for whom CRI prepares tax returns, even if the client lives in another state. The IRS determines affected areas by zip code of either the address on the tax return or the zip code of the preparer. Thus, if you live out of the state of Florida and your return is prepared by one of the CRI offices located in Panama City, Marianna, or Tallahassee, your filing date will be extended.