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IRS Grants Tax Relief for Florence Victims

The IRS has granted a variety of forms of relief for victims of Hurricane Florence. The relief is for individuals as well as businesses, and includes requirements related to compensation.

As of Sept. 17, individuals who reside or have a business may qualify for tax relief in the following North Carolina counties: Beaufort, Bladen, Brunswick, Carteret, Columbus, Craven, Cumberland, Duplin, Harnett, Lenoir, Jones, New Hanover, Onslow, Pamlico, Pender, Robeson, Sampson and Wayne.

The relief postpones various tax filing and payment deadlines that occurred starting on Sept. 7, 2018 in North Carolina. Now, affected individuals and businesses will have until Jan. 31, 2019, to file returns and pay any taxes that were originally due during this period.

The relief includes quarterly estimated income tax payments due on Sept. 17, 2018, and the quarterly payroll and excise tax returns normally due on Oct. 31, 2018. Businesses with extensions also have the additional time, including calendar-year partnerships whose 2017 extensions run out on Sept. 17, 2018. Taxpayers who had a valid extension to file their 2017 return due to run out on Oct. 15, 2018, will also have more time to file.

The IRS also says that it will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area shoud contact the IRS at 866-562-5227.

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