September 30, 2022

IRS Provides Relief for Taxpayers Affected by Hurricane Ian

By Zakariya Hussain, Supervisor, Tax & Business Services

IRS Provides Relief for Taxpayers Affected by Hurricane Ian Tax & Business

The Internal Revenue Service (“IRS”) has announced that victims of Hurricane Ian may qualify for federal tax relief in the form of extended deadlines to file and remit payments for various individual and business tax returns.

Affected taxpayers located in areas designated by the Federal Emergency Management Agency (“FEMA”) as areas qualifying for assistance now have until February 15, 2023 to file certain returns and remit certain payments originally due on or after September 23, 2022 (September 25, 2022 in South Carolina and September 28 in North Carolina).

The IRS has stated relief will be made available to impacted individuals and households which reside or have a business anywhere in the state of Florida. Taxpayers with an address of record located in the disaster area will automatically receive filing and penalty relief from the IRS and will not need to contact the IRS to utilize the extended deadlines.

The IRS has stated that it will work with taxpayers living outside of the disaster area whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Those taxpayers are instructed to contact the IRS at (866)562-5227 in order to ensure that they are able to obtain relief.

Affected taxpayers that receive a late filing or late payment penalty notice from the IRS, with an original or extended filing, payment, or deposit due date falling within the postponement period should call the number on the notice to have the penalty abated pursuant to the extended deadline granted due to Hurricane Ian.

For additional information regarding extended deadlines and relief granted by the IRS due to Hurricane Ian, please contact your local Marcum professional.