IRS Grants Extended Tax Deadlines and Relief for Hurricane Debby Victims

Taxpayers in affected Southeast regions given more time to file and pay; IRS addresses Employee Retention Credit concerns and casualty loss deductions.

• IRS extends tax deadlines for storm-affected areas in Florida, Georgia, North Carolina, and South Carolina.
• Taxpayers in these regions have until February 3, 2025, to file various federal tax returns and make payments.
• IRS Commissioner Werfel addresses concerns about the lengthy review process for Employee Retention Credit claims.
• Businesses and individuals are urged to review ERC claims for accuracy and potential issues.
• Casualty loss deductions are available for those in federally declared disaster areas, with specific guidelines for claiming.

3 Articles

Forbes Newsweek Forbes