Victims of Hurricane Fiona in all 78 Puerto Rican municipalities now have until February to file various federal personal and business returns and make tax payments.
The IRS offers assistance to any area designated by the Federal Emergency Management Agency, which means individuals and households who reside or have a business anywhere in the Commonwealth of Puerto Rico are eligible for assistance. assistance. (The current list of eligible locations is on the disaster relief page from IRS.gov.
The tax relief extends various filing and payment deadlines that took place from September 17. Affected individuals and businesses will have until February 15, 2023 to file returns and pay the taxes originally due during this period.
People who had a valid extension to file their 2021 return that was due to run out on October 17 will now have until February 15 to file their return, but since tax payments related to those 2021 returns were due on October 18 April 2022, these payments are not eligible for this allowance.
The February 15 deadline also applies to estimated quarterly income tax payments due January 17, 2023 and quarterly payroll and excise tax returns normally due October 31, 2022 and January 31, 2023. expiry date also has the additional time, including, among others, calendar year companies whose 2021 extensions expire on October 17.
Similarly, tax-exempt organizations also have additional time, including for calendar year 2021 returns with extensions set to expire November 15, 2022.
Penalties on payroll and excise tax deposits due this year after September 17 and before October 3 will be mitigated as long as deposits are made before October 3.
The IRS automatically provides filing and penalty relief to any taxpayer with a record address in the disaster area; taxpayers do not need to contact the agency. If an affected taxpayer receives a late-filing or late-payment penalty notice from the agency that has an initial or extended filing, payment, or filing due date falling within the deferral period, the taxpayer should call the number listed on the notice to have the penalty mitigated.
The IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline that occurs during the deferral period are in the affected area. Taxpayers eligible for relief who live outside the disaster area should call (866) 562-5227. This includes workers who participate in relief activities and who are affiliated with a recognized government or philanthropic organization.
Individuals and businesses in a federally declared disaster area who have incurred uninsured or unreimbursed disaster-related losses can choose to claim them either on the statement for the year the loss occurred, or on the declaration of the previous year. Include the FEMA return number (DR-3583-EM) on any returns claiming loss.