What Does This Mean for Individual Tax Payers?
The IRS has announced that taxpayers in North Carolina, South Carolina and Florida now have until February 15, 2023, to file various individual and business tax returns. The tax relief has been declared due to the recent disaster declarations caused by Hurricane Ian. Here is a breakdown of the specifics:
- The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA), which extends to individuals and households that reside or have a business anywhere in both the Carolinas and Florida.
- This relief will postpone various tax filing and payment deadlines that occurred starting on September 25, 2022, in South Carolina and September 28 in North Carolina.
- Affected individuals and businesses will have until February 15, 2023, to file returns and pay any taxes that were originally due during this period.
- Anyone living in those states who had previously filed an extension for their personal tax returns or business (set to expire on Oct 17) now has until Feb 15 of 2023, to file those returns.
- Q3 and Q4 estimated payments are also now due on Feb 15th.
Need Help Finishing and Filing Your Taxes?
At Tax Advisors of Cary, we’re made up of fantastic tax professionals with the same goal in mind — to provide accurate, on-time tax preparation and accounting services that emphasize communication and a superior client experience. From individual tax preparation to our business service package, we can handle any and all of your tax and accounting needs.