IRS shows goodwill with taxpayers affected by natural disasters in CT, NY, & PA by pushing off tax deadlines

Once again, the IRS is expressing goodwill and trying to work with taxpayers:

The IRS announced that taxpayers affected in the areas of New York, Connecticut, and Pennsylvania by severe storms and flooding will have tax due dates pushed off until Feb. 3, 2025.

The areas included as listed by the IRS are Suffolk County in the state of New York, Fairfield, Litchfield, and New Haven counties in the state of Connecticut, and Lycoming, Potter, Tioga, and Union counties in the state of Pennsylvania qualify for tax relief.

Tax filings and payments that were due during the period from August 2024 through 2/3/2025 will be postponed to a new due date of 2/3/25.

Below are some examples of tax returns and/or payments that are pushed off:

? S-Corp and Partnership tax returns with an extended due date of 9/16/24 will now have an updated due date of 2/3/2025.

? Individual tax returns as well as C-Corp tax returns with a valid extension that had an extended due date of 10/15/24 will now have a due date of 2/3/2025.

? Quarterly estimated tax payments originally due 9/16/24 and 1/15/24 are now pushed off until 2/3/2025.

The IRS automatically will provide penalties and filing relief based on the taxpayer's address on file with the IRS.

Have a question about this or another tax-related matter? Feel free to reach out!

#shomercpa #tax

CA Piyush Bansal

Maximising Global CPA Firms ROI | Delivering Scalable, Transparent, and Efficient Accounting Outsourcing?Solutions | CA with 10+ Years of Experience

5 个月

Such an insightful read. Thanks a lot for sharing Yoseph Shomer, CPA

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