Victims of Tropical Storm Harvey and Hurricane Irma in Louisiana and South Carolina may qualify tax relief from the IRS.

President Trump has declared that a major disaster exists in Louisiana, and individuals who reside or have a business in the parishes of Acadia, Allen, Assumption, Beauregard, Calcasieu, Cameron, DeSoto, Iberia, Jefferson Davis, Lafayette, Lafourche, Natchitoches, Plaquemines, Rapides, Red River, Sabine, St. Charles, St. Mary, Vermilion and Vernon may qualify for tax relief.

Certain deadlines falling on or after Aug. 27 and before Jan. 31, 2018, are granted additional time to file through Jan. 31. This includes taxpayers who had a valid extension to file their 2016 return that was due to run out on Oct. 16. It also includes the quarterly estimated income tax payments originally due on Sept. 15 and Jan. 16 and the quarterly payroll and excise tax returns normally due on Oct. 31.

In addition, penalties on payroll and excise tax deposits due on or after Aug. 27 and before Sept. 11, 2018, will be abated as long as the deposits were made by Sept. 11, 2017.

Victims of Hurricane Irma beginning on Sept. 6 in parts of South Carolina may also qualify for tax relief. Individuals who reside or have a business in the counties of Allendale, Anderson, Bamberg, Barnwell, Beaufort, Berkeley, Charleston, Colleton, Dorchester, Edgefield, Georgetown, Hampton, Jasper, McCormick, Oconee and Pickens may be eligible.

In South Carolina, certain deadlines falling on or after Sept. 6 and before Jan. 31, 2018, are granted additional time to file through Jan. 31.

This includes taxpayers who had a valid extension to file their 2016 return that was due to run out on Oct. 16, as well as the quarterly estimated income tax payments due on Sept. 15 and Jan. 16, 2018, and quarterly payroll and excise tax returns normally due on Oct 31. Tax-exempt organizations that operate on a calendar year basis and had an automatic extension due to run out on Nov. 15 are also included.

Penalties on payroll and excise tax deposits due on or after Sept. 6 and before Sept. 21 will be abated as long as the deposits were made by Sept. 21.

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 that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty. Affected taxpayers who reside or have a business located outside the covered disaster areas must call the IRS disaster hotline at (866) 562-5227 to request this relief.

White Paper

The case for the continuous close

Partner Insights
Sponsor Content From: