Taxpayers affected by Hurricane Ida and the storm’s remnants have been given additional time to file certain 2020 returns and 2021 tax payments.
This relief is available to residents and businesses in areas that have been designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual or public assistance. In addition to the entire state of Louisiana and parts of Mississippi, this eligibility extends to several impacted counties in New York and New Jersey.
To determine if your residence or business is eligible for this relief, you can search by zip code on the DisasterAssistance.gov website.
For eligible taxpayers, the following federal tax deadlines are now extended to January 3, 2022:
- Extended 2020 individual income tax returns (normally due on October 15, 2021)
- Quarterly estimated income tax payments (normally due on September 15, 2021)
- Calendar-year corporations’ extended 2020 returns (due to run out on October 15, 2021)
- Calendar-year tax-exempt organizations’ extended 2020 returns (due to run out on November 15, 2021)
- Quarterly payroll and excise tax returns (normally due on November 1, 2021)
In addition, payroll and excise tax deposits due on or after August 26 and before September 10 will not incur a penalty if they are paid by September 10, 2021.
2020 federal tax payments are not included in this relief, as those payments were due on May 17, 2021 (prior to the August 26, 2021 effective date of the Hurricane Ida relief).
Generally, this relief applies only to residents and businesses currently located in the disaster area. If you no longer reside in the area but have records necessary to meet one of these deadlines within the area, you must first call the IRS to confirm if you qualify for the extension. For more information or assistance, please contact your Grassi tax advisor or Rozleen Giwani, Tax Partner, at firstname.lastname@example.org.
It is unclear if New York State or New Jersey will offer similar relief on state tax deadlines for those impacted by the remnants of Hurricane Ida. Grassi’s Tax Services advisors will keep you informed of any new developments.