Tax relief for individuals and businesses in Connecticut and New York affected by severe storms and flooding that began on August 18, 2024.
The IRS today announced tax relief for individuals and businesses in Connecticut and New York affected by severe storms and flooding that began on August 18, 2024. The affected taxpayers now have until February 3, 2025, to file various individual and business tax returns and make tax payments.
According to the IRS release—IR-2024-234 (September 10, 2024)—following a disaster declaration by the Federal Emergency Management Agency (FEMA), individuals and households that reside or have a business in Fairfield, Litchfield, and New Haven counties in Connecticut and Suffolk county in New York qualify for tax relief.
The tax relief postpones various tax filing and payment deadlines that occurred from August 18, 2024, through February 3, 2025 (postponement period). As a result, affected individuals and businesses will have until February 3, 2025, to file returns and pay any taxes that were originally due during this period.
This means, for example, that the February 3, 2025, deadline will now apply to:
In addition, penalties for failing to make payroll and excise tax deposits due on or after August 18, 2024, and before September 3, 2024, will be abated, as long as the deposits were made by September 3, 2024.
The IRS will automatically identify taxpayers located in the covered disaster area and apply the filing and payment relief. However, affected taxpayers who reside or have a business outside the covered disaster area must call the IRS disaster hotline to request this tax relief. Moreover, if any affected taxpayer receives a late filing or payment penalty notice from the IRS that falls within the postponement period, they need to contact the IRS at the number provided on the notice to have the penalty abated.