Important Information for Victims of Hurricane Helene: TAX DEADLINE EXTENDED

Our thoughts and deepest sympathies are with all those impacted by Hurricane Helene, including families, friends, and communities. We understand there are many challenges you are facing in the aftermath of the storm, and we want to offer our support by providing you with important information on the tax relief available to help ease some of the financial burdens during this difficult time.

If you were affected by Hurricane Helene, you may be eligible for tax relief, with extended deadlines to help ease the recovery process. 

Who Qualifies for Relief?

This relief applies to individuals and businesses in North Carolina, as well as parts of seven other states impacted by Hurricane Helene. If your home, business, or tax records are located in the federally declared disaster areas, you are eligible for this extension. 

You do not need to apply for the extension if you qualify. The IRS will automatically apply relief to taxpayers in these areas. If you receive a late payment or filing notice from the IRS but were affected by the storm, contact us or the IRS directly to correct the issue.

What Does the Relief Cover?

The IRS has extended the deadlines for several tax-related tasks, including:

  • Filing individual and business tax returns
  • Making quarterly estimated tax payments
  • Filing payroll, excise tax returns, and some payments (see below)
  • Contributions to retirement accounts that would otherwise be due during this period

For NC, any deadlines that were set to occur between September 25, 2024, and May 1, 2025, have been postponed. Other states may have different dates. This means if you had an extension to file your 2023 tax return (originally due October 15, 2024), you now have until May 1, 2025, to file your return.

Other Types of Relief Available

The May 1, 2025, deadline also applies to certain payments normally due during this period. This includes quarterly estimated tax payments due on January 15 and April 15, 2025. Additionally, the deadline covers quarterly payroll and excise tax returns (but not all payments), which would typically be due on October 31, 2024, January 31, and April 30, 2025.

Furthermore, penalties on payroll and excise tax deposits due on or after September 25, 2024, and before October 10, 2024, will be waived as long as the tax deposits are made by October 10, 2024. This relief provides businesses with the extra time they may need to manage their payroll and excise tax obligations.

How to Claim Disaster Losses

If you experienced losses due to the hurricane, you can claim these on your tax return. You have the option to deduct the loss on your 2024 return or amend your 2023 return to reflect the losses. Speak to one of our tax professionals to determine which option best benefits your situation.

Stay Informed

For more details, visit the IRS links below or contact us directly for assistance with your tax-related needs. We are here to support you during this challenging time and ensure you take full advantage of the relief available.

Sources: https://www.irs.gov/newsroom/irs-announces-tax-relief-for-victims-of-hurricane-helene-in-north-carolina-various-deadlines-postponed-to-may-1-2025

https://www.irs.gov/newsroom/irs-provides-relief-for-helene-various-deadlines-postponed-to-may-1-2025-part-or-all-of-7-states-qualify