Maine taxpayers join those in Connecticut, Tennessee, and Rhode Island disaster areas for whom Tax Day now is a mid-summer event.
Much of California is overrun today by an atmospheric river unleashing heavy rain and wind.
Judging from the images of the damages, the Federal Emergency Management Agency (FEMA) likely will eventually declare the hardest hit areas as major disasters. The Internal Revenue Service then will follow, granting tax relief to those in the designated locales.
But that's a bit down the flooded California roads.
Today, FEMA actions prompted the IRS to announce tax relief for individuals and businesses in parts of Maine hit by severe storms and flooding back on Dec. 17-23, 2023.
Most of the Pine Tree State is covered under the FEMA designation, shown below. If you're reading this on a small screen, the affected counties are Androscoggin, Franklin, Hancock, Kennebec, Oxford, Penobscot, Piscataquis, Somerset, Waldo, and Washington Counties.
Individual and business taxpayers in those counties now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. If FEMA adds other Maine locations to the disaster declaration, the same IRS tax relief will be available to them.
Varied disaster tax relief: So what exactly what type of tax consideration do these Mainers get? The IRS relief covers tax filing and payment deadlines that occurred or will arrive in the postponement period of Dec. 17, 2023, through June 17, 2024.
For affected individual Maine taxpayers that pushes the April 15 Tax Day filing deadline to June 17. That summer day now is when they must file their 2023 tax return and pay any due tax.
Other individual and business tax instances to which the new June 17 deadline applies include —
- 2023 contributions to IRAs and health savings accounts for eligible taxpayers.
- Quarterly estimated income tax payments normally due on Jan. 16 and April 15, 2024.
- Quarterly payroll and excise tax returns normally due on Jan. 31 and April 30, 2024.
- Calendar-year partnership and S corporation returns normally due on March 15, 2024.
- Calendar-year corporation and fiduciary returns and payments normally due on April 15, 2024.
- Calendar-year tax-exempt organization returns normally due on May 15, 2024.
In addition, the IRS says penalties for business that fail to make payroll and excise tax deposits due on or after Dec. 17, 2023, and before Jan. 2, 2024, will be abated as long as the deposits were made by Jan. 2, 2024.
Fourth state with June 17 deadline: Maine residents now joins taxpayers in three other states with a disaster-prompted Tax Day move to mid-June.
On Dec. 9-10, 2023, deadly tornadoes ravaged much of middle Tennessee. The IRS has given taxpayers in the twister paths until June 17, 2024, to file their 2023 returns, as well as meet other tax deadlines.
Southeastern Connecticut was hit by severe storms, flooding, and a potential dam breach that began on Jan. 10. These Nutmeg State taxpayers also have until June 17 to file various federal individual and business 2023 tax returns and make tax payments.
Northern Rhode Island residents suffered through flooding and tornado damage between Sept. 10-13, 2023. FEMA finally issued a major disaster declaration for the area on Jan. 7. The IRS followed by giving Ocean State individual and business taxpayers until June 17 to meet various 2023 tax responsibilities and make associated payments.
Claiming a disaster tax deduction: The assorted text links in the above disaster area discussions (and the ones below) have more on the specific disaster related tax relief for Maine, Tennessee, Connecticut, and Rhode Island.
I also want to remind disaster area taxpayers to also check with their state tax department about any relief available at that level.
Finally, I want to emphasize that federal tax law also provides those who've endured a major disaster the option to claim any uninsured losses as a tax deduction on the tax returns they send to the IRS.
As long-time readers know, I've discussed this option in the all-too-frequent disaster declaration items here on the ol' blog. You can find more about potential disaster tax deductions in my post Considerations in making a major disaster tax claim.
You also can find more on taxes and major disasters in the following posts.
- Picking up the pieces after a major disaster (after Tennessee info)
- Document your property for tax, insurance claims before storms hit
- IRS and other government resources can help you deal with a natural disaster
- Storm Warnings: Preparing for, recovering from, and helping those affected by natural disasters
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