Storm Victims In Georgia And Alabama Qualify For Tax Relief

A state of emergency has been declared in numerous counties in Alabama and Georgia after parts of the states were struck and devastated by as many as 33 tornadoes last month. These storms destroyed many homes and businesses, flipped damaged countless vehicles, and mangled power lines across the state, leaving many homeless, without power, and struggling with physical injuries. Tax relief has been extended to many of those who live or work in these areas, postponing deadlines for the filing of 2022 tax returns and the payment of corresponding debts to the IRS.

Tax Return/Payment Deadline Extensions

The tax relief measures offered by the IRS postpone a number of tax filing and payment deadlines that occurred starting on January 12th of this year. Storm victims in parts of Alabama and Georgia now have until May 15th to file individual and business tax returns and to make payments that were originally due during this period. This includes:

• Filing of 2022 individual income tax returns due in April;
• Filing of 2022 business returns due on March 15th and April 18th;
• Making quarterly estimated tax payments due on January 17th and April 18th; and
• Filing quarterly payroll and excise tax returns due on January 31st and April 30th.

Eligible taxpayers also now have until mid-May to make 2022 contributions to their health and savings accounts and to qualifying IRAs. In addition, penalties on payroll and excise tax deposits that were due starting January 12th, but before January 27th will be abated, but only if those deposits are made by the 27th.

Who Qualifies for Storm-Related Tax Relief?

The tax relief is specifically being offered to those who live or work in designated disaster areas, which includes those who reside or have a business in one of the following Georgia counties:

• Butts;
• Henry;
• Jasper;
• Meriwether;
• Newton;
• Spalding; and
• Troup.

Those residing or working in Autauga and Dallas Counties in Alabama could also be eligible for tax relief. The IRS should automatically provide tax relief to qualifying taxpayers (i.e. those who have an address of record located in a disaster area). This means that in most cases, taxpayers don’t have to contact the IRS to get relief. If, however, a qualifying taxpayer receives a late payment or filing notice, then he or she can reach out to the agency to have the penalty abated.

Do You Qualify for Tax Relief?

If you were affected by the recent storms in Alabama and Georgia, you could be eligible for a tax return deadline extension and other relief. For help determining whether you qualify for this relief or for assistance with another tax-related question, please call 386-490-9949 and set up a meeting with experienced CPA, former FBI Special Agent, and Florida tax attorney Ronald Cutler, P.A. We have been helping taxpayers with their tax-related problems for over 40 years. To put that experience to work on your own case, call our office or reach out to us online today.

Sources:

washingtonpost.com/weather/2023/01/13/alabama-georgia-tornadoes-fatalities/

irs.gov/newsroom/irs-georgia-alabama-storm-victims-qualify-for-tax-relief-april-18-deadline-other-dates-extended-to-may-15