At Joan W. Halter, CPA, our hearts are heavy on behalf of our communities that have been devastated by Hurricane Ida. If you were directly affected by the hurricane, either at your home or place of business, recent announcements by the IRS regarding your tax return due date extensions may provide a small bit of respite as you work on recovering from this horrendous hurricane.
“During this difficult time, the IRS stands ready to help victims of Hurricane Ida. We want people affected by this devastating hurricane focused on their safety and recovery for themselves and their families.” —IRS Commissioner Chuck Rettig
Hurricane Ida victims in Bergen, Gloucester, Hunterdon, Middlesex, Passaic, and Somerset counties now have until January 3 to file federal business and personal tax returns. The standard extension due date of October 15th has been automatically updated for residents in areas that have been identified for relief by the Federal Emergency Management Agency; therefore, no action needs to be taken on your part to request an extension.
Additionally, quarterly estimated tax payments, which would normally be due September 15th, have also been extended to January 3rd.
Please note that 2020 payments and returns that were due May 17, 2021, are not covered under the federal relief extension.
If you’re a resident of an affected area, your New Jersey state taxes are also eligible for filing and penalty relief, though this extension is not automatic. If you want to pursue an extension on your state taxes, please contact our office for assistance.
Should you receive a late payment notice by mistake, don’t panic! A phone call to the IRS disaster hotline at 866-562-5227 will reverse this notice and ensure you are listed for tax relief.
You may live outside the boundaries of the regions that have been automatically designated for relief, yet your home or business may have been directly affected by Hurricane Ida. For example, the records you require to complete your tax returns may be located in an affected zone, or your home may have been flooded despite its location just outside an automatically-designated region. You can still request relief by calling the IRS disaster hotline at 866-562-5227.
To view a continuously updated list of eligible regions of New Jersey, visit:
https://www.irs.gov/newsroom/help-for-victims-of-hurricane-ida.