The Internal Revenue Service announced today that victims of the severe storms, flooding, and tornadoes that took place due to Tropical Storm Debby in central North Carolina would be getting tax relief.
Taxpayers in those counties designated by the disaster declaration by the Federal Emergency Management Agency may now take advantage of extended filing deadlines or other kinds of assistance.
Extended Filing Deadline: Tax Relief
Taxpayers in the affected counties now have until February 3, 2025, to file federal individual and business tax returns and make payments. This includes:
* Individuals who had a valid extension to file their 2023 tax return
* Businesses with an original or extended due date, including calendar year partnerships and S corporations with 2023 tax extensions
The February 3, 2025 deadline also applies to quarterly estimated tax payments due on September 16 and January 15, 2025, as well as quarterly payroll and excise tax returns normally due on October 31 and January 31, 2025.
Claiming Disaster-Related Losses
Taxpayers in the following counties may claim disaster-related casualty losses on their federal income tax return this year. When filing they should put the FEMA disaster declaration number 3608-EM on any return.
Penalty Waivers
The IRS will abate penalties on payroll and excise tax deposits due on or after Aug. 5 and before Aug. 19, if the deposits are made by Aug. 19.
Those central counties in North Carolina that qualify for Debby-related tax relief are: Chatham, Cumberland, Durham, Edgecombe, Franklin, Granville, Halifax, Harnett, Hoke, Johnston, Lee, Moore, Nash, Northampton, Orange, Person, Sampson, Vance, Wake, Warren, Wayne, Wilson, and Yadkin.
These measures seek to assist people and businesses trying hard to recover from the terrible effects of Tropical Storm Debby in central North Carolina.
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