IRS Relief for Those Affected by Hurricane Ian

Taxpayers affected by Hurricane Ian now have until February 15, 2023, to file various individual and business tax returns and make certain tax payments.  An affected taxpayer includes any individual whose principal residence is located in a covered disaster area and any business entity or sole proprietorship whose principal place of business is located in a covered disaster area.

A couple points of emphasis from the recent IRS guidance contained in FL 2022-19, NC 2022-10 and SC 2022-06:

• Individuals who had a valid extension to file their 2021 tax return will now have until February 15, 2023, to file.
• Tax payments related to 2021 tax returns were due on April 18, 2022. Those tax payments are not eligible for disaster relief.
• The February 15, 2023, deadline applies to the quarterly estimated tax payments, normally due on January 17, 2023 and to quarterly payroll and excise tax returns that are normally due on October 31, 2022, and January 31, 2023.
• Businesses with an original or extended due date also have additional time, including calendar-year corporations whose 2021 extensions went through October 17, 2022.