Hurricane Irma victims in parts of Florida and elsewhere have until Jan. 31, 2018, to file individual and business tax returns and make certain tax payments. This includes an additional filing extension for taxpayers with valid extensions that run out on Oct. 16, and businesses extensions that run out on Sept. 15.
The IRS will continue to closely monitor the storm’s aftermath, and anticipate providing additional relief for other affected areas in the near future. The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying for individual assistance. Parts of Florida, Puerto Rico and the Virgin Islands are currently eligible, but taxpayers in localities added later to the disaster area, including those in other states, will automatically receive the same filing and payment relief. The current list is available on the disaster relief page on IRS.gov.
The tax relief postpones tax filing payment deadlines. As a result, affected individuals and business will have until Jan. 31 2018, to file returns and pay any taxes originally due including Sept. 15, 2017 and Jan. 16, 2018 deadlines for making quarterly estimated tax payments. For individual tax filers, it also includes 2016 income tax returns that received a tax filing extension until Oct. 16, 2017. HOWEVER, because tax payments related to these 2016 returns were originally due on April 18, 2017, those payments are not eligible for this relief.
A variety of business tax deadlines are also affected including the Oct. 31 deadline for quarterly payroll and excise tax returns. Businesses with extension have additional time including:
- Calendar year partnerships whose 2016 extensions run out on Sept. 15, 2017
- Calendar year tax exempt organizations whose 2016 extensions run out on Nov. 15, 2017.
IRS is waiving late deposit penalties for federal payroll and excise tax deposits normally due during the first 15 days of the disaster period. IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of recorded located in the disaster area. If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, taxpayer should call.
The IRS will work with any taxpayer who lives outside the disaster are but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227. This also includes workers assisting relief activities affiliated recognized government or philanthropic organization.
Individuals and businesses who suffered uninsured or unreimbursed disaster related losses:
- Can choose to claim them on either the return for the year the loss occurred (2017) or
- The return for the prior year (2016).