Low Water Bridge destroyed by Hurricane Helen
ComplianceTax & AccountingOctober 07, 2024

Hurricane Helene: Relief for taxpayers located in Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia, and Tennessee: IRA and HSA deadlines postponed

By: Michael Schiller

Due to the destruction caused by Hurricane Helene in September 2024, the Internal Revenue Service (IRS) has announced that affected taxpayers will receive tax relief. The tax relief postpones until May 1, 2025, certain deadlines falling on/after the effective date identified in each specific state announcement that follows, and before May 1, 2025.

Alabama (September 22, 2024)

Florida (September 23, 2024)

Georgia (September 24, 2024)

North Carolina (September 25, 2024)

South Carolina (September 25, 2024)

Virginia (September 25, 2024)

Tennessee (September 26, 2024

Deadlines that apply to individual retirement accounts (IRAs), Health Saving Accounts (HSAs), Coverdell Education Savings Accounts (CESAs), and other tax-advantaged accounts that fall within this time-period are extended. The IRS’s Disaster Assistance and Emergency Relief for Individuals and Businesses page has details on returns, payments, and tax-related actions qualifying for the additional time.

Please note that unless an act is specifically listed in Revenue Procedure 2018-58, the postponement of time to file and pay does not apply to information returns in the W-2, 1094, 1095, 1097, 1098, or 1099 series; to Forms 1042-S, 3921, 3922 or 8027; or to employment and excise tax deposits.

For an opportunity to learn more about IRAs and other tax-advantaged accounts including Health Savings Accounts and Coverdell Education Savings Accounts, consider the Wolters Kluwer IRA Library or on-demand video training offered on a variety of topics. Go here to learn more about training opportunities available to you, or you can call us at 1-800-552-9408.

Mike Schiller
Michael Schiller
Manager, Specialized Consulting, Tax Advantaged Accounts
With more than 26 years of experience, Mike has worked closely with hundreds of financial organizations to help them create, implement, and maintain their tax-advantaged accounts program.
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