Hurricane Florence Relief

The IRS announced on September 15 that taxpayers affected by Hurricane Florence may qualify for relief from certain filing deadlines, tax payments, and other time-sensitive acts.  As of September 17, the extensions apply to taxpayers in Beaufort, Bladen, Brunswick, Carteret, Columbus, Craven, Cumberland, Duplin, Harnett, Lenoir, Jones, New Hanover, Onslow, Pamlico, Pender, Robeson, Sampson, and Wayne counties in North Carolina, and applies to original and extended due dates occurring on or after September 7, 2018, and before January 31, 2019.

As a declared disaster area, the IRS is permitted to postpone certain deadlines falling on or after September 7, 2018, and before January 31, 2019, to file and pay any taxes due during this period.  Such relief includes:

• Quarterly estimated income tax payments due on September 17, 2018.
• Quarterly payroll and excise tax returns that would have been due on October 31, 2018.  Penalties on payroll and excise tax deposits due on or after September 7, 2018, and before September 24, 2018, are abated as long as the deposits are made by September 24, 2018.
• Businesses that have extensions that end on September 17, 2018.
• Taxpayers with valid extensions to file their 2017 returns that end on October 15, 2018.

For further information:
The IRS disaster hotline is 866-562-5117.
The IRS announcement regarding Hurricane Florence.
The IRS’s Hurricane Florence Information Center.

States’ responses
As of September 16, Georgia has waived tax filings under the Georgia International Registration Plan and the International Fuel Tax Agreement. 

Guidance from North Carolina and South Carolina is expected soon. 

This article will be updated as further guidance is released regarding federal and state relief in response to Hurricane Florence.

from BDO USA Tax Publications Feed https://www.bdo.com/insights/tax/federal-tax/hurricane-florence-relief