Additional Tax Relief for Victims of Hurricane Ida

Yesterday, December 22, 2021, the IRS granted additional time for those living in areas impacted by Hurricane Ida to file certain tax returns and make payments. This measure extends the previous relief that permitted individuals to make such filings and payments until January 3, 2022.

Under the extended relief, affected individuals and businesses in New York, New Jersey and Connecticut with tax filing and payment deadlines that occurred as of September 1, 2021 now have until February 15, 2022 to meet those filing and payment requirements. For example, an individual taxpayer who extended their 2020 return until October 15, 2021 will now have until February 15, 2022 to timely file. Furthermore, the new deadline applies to third and fourth quarter estimated tax payments previously due on September 15, 2021 and January 18, 2022, respectively.

The relief also applies to quarterly payroll and excise tax returns, as well as calendar-year partnerships and S corporations whose 2020 extensions expired as of September 15, 2021, and calendar-year corporations whose 2020 extensions expired as of October 15, 2021. Note: Clarification from the states is necessary to determine whether they will conform to the newly extended due date.

According to the IRS guidance, the IRS will automatically provide penalty relief to any taxpayer whose address of record with the IRS is within a Hurricane Ida disaster area.

For more information on the latest Hurricane Ida relief granted by the IRS and to determine if you qualify for the new extended filing and payment due date, please contact your Anchin Relationship Partner.