Due to all the recent storms in South East, several states have extended their tax filing due dates. Please see below how this may affect you. Please reach out to your tax provider or Somerset if you have any questions.
Alabama
New federal tax filing due date: May 1, 2025
Why: Hurricane Helene that began on Sept. 22, 2024
Who is eligible: Individuals and businesses in the entire state of Alabama affected by Hurricane Helene.
The new May 1 deadline applies to:
- Individuals and businesses whose 2024 returns are normally due during March and April 2025.
- Individuals who had a valid extension to file their 2023 return due to run out on Oct. 15, 2024.
- Calendar-year corporations whose 2023 extensions run out on Oct. 15, 2024.
- Quarterly estimated tax payments due on Jan. 15, and April 15, 2025.
- Quarterly payroll and excise tax returns due on Oct. 31, 2024, and Jan. 31 and April 30, 2025.
- Penalties on payroll and excise tax deposits due on or after Sept. 22, 2024, and before Oct. 7, 2024, will be abated if deposits are made by Oct. 7, 2024.
- Affected taxpayers may also claim disaster-related casualty losses and receive additional time for various tax-related activities as detailed in the IRS guidelines.
State tax relief: Yes, state income tax relief may be available to affected taxpayers on a case-by-case basis. Check the Alabama Department of Revenue announcement for more information.
Florida
New federal tax filing due date: May 1, 2025
Why: Hurricanes Debby, Milton, and Helene
Who is eligible: Combined with earlier tax relief provided for taxpayers in counties affected by Hurricane Debby and Hurricane Helene, affected taxpayers in all of Florida now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments, including 2024 individual and business returns normally due during March and April 2025 and 2023 individual and corporate returns with valid extensions and quarterly estimated tax payments.
The new May 1 deadline also applies to:
- Individuals with a valid extension to file their 2023 return due Oct. 15, 2024 (tax payments that were due April 15, 2024, are not eligible for this relief).
- Businesses with original or extended due dates including calendar-year corporations due Oct. 15, 2024.
- Quarterly estimated tax payments due Sept. 16, 2024, plus Jan. 15 and April 15, 2025.
- Quarterly payroll and excise tax returns normally due Oct. 31, 2024, Jan. 31, and April 30, 2025.
- Penalties on payroll and excise tax deposits due on or after Sept. 23 and before Oct. 8, 2024, will be abated if deposits are made by Oct. 8, 2024.
- Casualty loss claims related to the disaster can be claimed for the 2024 or prior tax year by using FEMA declaration number FEMA-3615–EM.
- Individual and public assistance are now available for the areas affected by Hurricane Milton starting on Oct. 5, 2024. DR-4834
Georgia
New federal tax filing due date: May 1, 2025
Why: Hurricane Helene that began on Sept. 24, 2024 (the IRS also extended relief previously given for those impacted by Hurricane Debby).
Who is eligible: Individuals and businesses in all 159 counties of Georgia affected by Hurricane Helene.
The new May 1, 2025, deadline applies to:
- Taxpayers previously scheduled with deadlines postponed until Feb. 3, 2025, for Hurricane Debby.
- Calendar-year corporations whose 2023 extensions run out on Oct. 15, 2024.
- Quarterly estimated tax payments normally due on Sept. 16, 2024, plus Jan. 15 and April 15, 2025.
- Quarterly payroll and excise tax returns normally due on Oct. 31, 2024, plus Jan. 31, 2025, and April 30, 2025.
- Penalties on payroll and excise tax deposits due on or after Sept. 24, 2024, and before Oct. 9, 2024, will be abated if deposits are made by Oct. 9, 2024.
- Casualty loss claims related to the disaster can be claimed for the 2024 or prior tax year by using FEMA declaration number FEMA-3616–EM.
- Request for copies of previously filed tax returns filing fees waived.
- Potential relief for retirement plan or IRA participants, including special disaster distributions.
State tax relief: Yes, state income tax relief may be available to affected taxpayers. Check the Georgia Department of Revenue announcement for more information.
North Carolina
New federal tax filing due date: May 1, 2025
Why: Hurricane Helene that began on Sept. 25, 2024
Who is eligible: Individuals and businesses in the entire state of North Carolina affected by Hurricane Helene. Those originally affected by Tropical Storm Debby (due dates postponed until Feb. 3, 2025) also qualify for the extended relief until May 1, 2025.
The new May 1, 2025, deadline applies to:
- Individuals with a valid extension for their 2023 return due on Oct. 15, 2024.
- Calendar-year corporations with 2023 extensions originally due on Oct. 15, 2024.
- Quarterly estimated tax payments due Jan. 15 and April 15, 2025.
- Quarterly payroll and excise tax returns due on Oct. 31, 2024, plus Jan. 31 and April 30, 2025.
- Filing of Form 5500 series returns with original due dates on or after Sept. 26, 2024.
- Disaster-related casualty losses are claimable on federal returns for either the year of the event (2024) or the prior year (2023). To claim a disaster loss, put the FEMA disaster number FEMA-3617–EM on your return.
- Penalties on payroll and excise tax due after Sept. 25, 2024, and before Oct. 10, 2024, abated if deposits are made by Oct. 10, 2024.
- Possible retirement plan or IRA-related relief including special disaster distributions and hardship withdrawals.
- Waiver of fees for affected taxpayers requesting copies of previously filed returns with FEMA declaration number (3617-EM).
State tax relief: Yes, state income tax relief may be available to affected taxpayers. Check the North Carolina Department of Revenue announcements for more information.
South Carolina
New federal tax filing due date: May 1, 2025
Why: Hurricanes Helene and Debby
Who is eligible: Those who live or have a business in all 46 counties in the state of South Carolina.
The new May 1 deadline applies to:
- Affected taxpayers with returns and payments originally postponed until Feb. 3, 2025, due to Hurricane Debby in South Carolina.
- Individuals who had a valid extension to file their 2023 return due to run out on Oct. 15, 2024. Tax payments related to these 2023 returns are not eligible for relief, as payments were due April 15, 2024.
- Businesses with original or extended due dates, including calendar-year corporations whose 2023 extensions run out on Oct. 15, 2024.
- Quarterly estimated tax payments due Jan. 15 and April 15, 2025.
- Quarterly payroll and excise tax returns typically due on Oct. 31, 2024, Jan. 31, and April 30, 2025.
- Penalties on payroll and excise tax deposits due on or after Sept. 25, 2024, and before Oct. 10, 2024, will be abated as long as the tax deposits are made by Oct. 10, 2024.
Additionally, other relief includes:
- The option to claim disaster-related casualty losses on federal income tax returns for either 2024 or 2023 using FEMA declaration number FEMA-3619–EM.
- Requesting previously filed tax returns without the usual fees.
- Exclusion from gross income for qualified disaster relief payments.
- Special provisions for withdrawals from retirement plans or IRAs may not be subject to the additional 10% early distribution tax.
State tax relief: Yes, state income tax relief may be available to affected taxpayers. Check the South Carolina Department of Revenue announcements for more information.
Tennessee
New federal tax filing due date: May 1, 2025
Why: Tropical Storm Helene that began on Sept. 26, 2024
Who is eligible: Those who live or have a business in Carter, Cocke, Greene, Hamblen, Hawkins, Johnson, Unicoi, and Washington counties.
The new May 1 deadline applies to:
- Individuals who had a valid extension to file their 2023 return, originally due on Oct. 15, 2024. Note that payments for these returns were due April 15, 2024, and are not eligible for relief.
- Calendar-year corporations with 2023 extensions running out on Oct. 15, 2024.
- Quarterly estimated tax payments normally due Jan. 15 and April 15, 2025.
- Quarterly payroll and excise tax returns normally due Oct. 31, 2024; Jan. 31, and April 30, 2025.
- Penalties on payroll and excise tax deposits due from Sept. 26, 2024, to Oct. 11, 2024, will be abated if deposits are made by Oct. 11, 2024.
- Additional relief applies to:
- Taxpayers in federally declared disaster areas who choose to claim disaster-related casualty losses on their federal income tax return.
- Affected taxpayers receiving qualified disaster relief payments.
- Additional options may be available for retirement plans or IRAs.
- Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them for appropriate consideration.
Virginia
New federal tax filing due date: May 1, 2025
Why: Post-tropical Cyclone Helene that began on Sept. 25, 2024
Who is eligible: Individuals and businesses in the City of Bedford, Bland, Bristol City, Buchanan, Carroll, Covington City, Craig, Danville City, Dickenson, Galax, Giles, Grayson, Montgomery, Norton City, Pittsylvania, Pulaski, Radford, Russell, Scott, Smyth, Tazewell, Washington, Wise, and Wythe counties.
The new May 1 deadline applies to:
- Individuals with a valid extension for their 2023 return originally due on Oct. 15, 2024, though payments for these returns were due April 15, 2024, and are not eligible for relief.
- Calendar-year corporations with 2023 extensions running out on Oct. 15, 2024.
- Quarterly estimated tax payments due Jan. 15 and April 15, 2025.
- Quarterly payroll and excise tax returns normally due on Oct. 31, 2024, Jan. 31, and April 30, 2025.
- Penalties on payroll and excise tax deposits due on or after Sept. 25, 2024, and before Oct. 10, 2024, will be abated if made by Oct. 10, 2024.
State tax relief: Yes, state income tax relief may be available to affected taxpayers in certain counties. Check the Virginia Department of Taxation announcement for more information.
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