- The IRS has extended tax relief to parts of New York and New Jersey affected by Hurricane Ida.
- Eligible filers and businesses may postpone certain tax filing and payment deadlines until Jan. 3.
Hurricane Ida victims in parts of New York and New Jersey may now have until Jan. 3 to file federal personal and business tax returns. The IRS is also providing relief in parts of Pennsylvania.
Eligible filers have the same extension for quarterly estimated tax payments, normally due Sept. 15, according to the IRS.
To qualify, someone must live in an area designated for individual or public assistance by the Federal Emergency Management Agency. The tax relief is similar to what’s available for Louisiana residents and does not include 2020 payments or returns that were due May 17.
In New York, taxpayers in the Bronx, Kings, New York, Queens, Richmond and Westchester counties may qualify. Eligible counties in New Jersey are Bergen, Gloucester, Hunterdon, Middlesex, Passaic and Somerset.
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“During this difficult time, the IRS stands ready to help victims of Hurricane Ida,” said IRS Commissioner Chuck Rettig in a statement. “We want people affected by this devastating hurricane focused on their safety and recovery for themselves and their families.”
Many taxpayers will automatically receive filing and penalty relief, as long as they have an address of record in a disaster area. However, those who receive a late payment notice may call the number provided to waive the fee.
Victims may find the complete IRS details for disaster assistance and emergency relief here.
The New Jersey Division of Taxation is offering relief for state income taxes. However, the extension is not automatic. The New York Department of Taxation and Finance has not announced relief for state income taxes.
Source: Business - cnbc.com