Hurricane Helene recently caused catastrophic damage in many parts of the southeast, forcing businesses to close their doors for the foreseeable future. If your business was affected by this storm, you probably feel overwhelmed with all the things you need to deal with while also worrying about your neighbors and community. Our hearts go out to you at this difficult time.
We also know one of the things on your list of worries may be how you will make your income tax deadlines, along with everything else you are doing to figure out how to get your business up and running again.
The IRS announced they will provide tax relief for businesses and individuals in North Carolina affected by the severe storms and flooding that started in August and worsened with the recent hurricane. If you live in North Carolina and were impacted storm damage, you have until February 3, 2025 to file certain federal individual and business tax returns, in addition to making tax payments.
This new February 3rd deadline affects two groups of people:
- Individuals who had a valid extension to file their 2023 return that was due to run out on October 15, 2024. Payments due on April 15, 2024, however, are not eligible for this relief.
- Businesses that had an extended or original filing date, including those with 2023 extensions that would have run out on September 16, 2024. This also applies to calendar-year corporations who had 2023 extensions due on October 15, 2024.
At Balanced Bookkeeping of NC, we are here to help you prepare for the income tax filing process. If you need income tax filing advice and guidance in light of this recent announcement by the IRS, we would be happy to provide assistance. Contact us today!
