On September 10, 2021, the Federal Emergency Management Association (FEMA) announced that federal disaster assistance has been made available to commonwealth of Pennsylvania for certain areas affected by Hurricane Ida from August 31, 2021 to September 5, 2021. This action taken by the President was designated for individuals and businesses in Bucks, Chester, Delaware, Montgomery, Philadelphia and York counties of Pennsylvania. On September 14, 2021, the IRS announced that it would also be providing tax and filing relief for those who were affected by the remnants of Hurricane Ida. The declaration permits the IRS to postpone tax-filing and tax-payment deadlines for those who live or have a business in the disaster areas. Specifically, certain deadlines falling on or after August 31, 2021 and before January 3, 2022, are postponed through January 3, 2022.
Individuals who have extended their 2020 returns to October 15, 2021 will now have until January 3, 2022 to file. However, tax payments related to the extended 2020 individual returns that were originally due on May 17, 2021 and are not eligible for relief.
Businesses, including partnerships and S corporations, that have extended their 2020 returns to September 15, 2021 and corporations that have extended their 2020 returns to October 15, 2021 are also eligible for relief.
In addition, the January 3, 2022 extension applies to quarterly estimated tax payments and quarterly payroll and excise tax returns that originally were due within the August 31, 2021 to January 3, 2022 time period.
This relief includes the filing of Form 5500 series returns that were required to be filed on or after August 31, 2021 and before January 3, 2022 in the manner described in section 8 of Rev, Proc. 2018-58 which provides a list (that includes Form 5500) of time-sensitive acts which may be postponed under the Internal Revenue Code.
For specific details regarding affected taxpayers, casualty losses, other relief, as well as relief available to victims in other states (Mississippi, New Jersey, New York and Louisiana), readers are encouraged to consult the full text of the IRS announcements at https://www.irs.gov/newsroom/tax-relief-in-disaster-situations.