IRS Extends Tax Filing Dates for Louisiana Residents Affected by Tropical Storm Francine

The Internal Revenue Service (IRS) announced today that individuals and businesses throughout the state of Louisiana affected by Tropical Storm Francine will receive tax relief. Those affected will be until February 3, 2025file federal tax returns and make payments.

This exemption is granted following designation of affected areas by the Federal Emergency Management Agency (FEMA). Individuals and businesses in Louisiana, regardless of state status, are eligible. A current list of eligible jurisdictions can be found on the IRS’s “Tax Assistance in Disaster Situations” page.

Filing and Release of Payment

The IRS is postponing various tax filing and payment deadlines for those affected by the storm. The relief applies to the deadlines that usually occur between them September 10, 2024again February 3, 2025. As a result, Louisiana taxpayers now have time February 3, 2025filing returns and paying taxes originally due during this period.

The extension applies to individuals and businesses with valid extensions for their 2023 federal tax returns, although payments on those returns that were originally due before the storm are not eligible for the extended deadline. The new deadline also includes:

• Estimated quarterly income tax payments because of September 16, 2024again January 15, 2025.
• Quarterly payroll and excise tax returns because of October 31, 2024again January 31, 2025.
• Payment penalties and excise duty deposit which should have happened on or after that September 10, 2024and before September 25, 2024will be reduced as long as the deposits are made by September 25, 2024.

More information about other returns, payments, and activities that qualify for exemption during this grace period can be found on the IRS’s “Disaster and Emergency Assistance for Individuals and Businesses” page.

Automatic Filing and Penalty Relief

The IRS will provide automatic filing and penalty relief to all taxpayers whose address of record is in a designated disaster area. These individuals and businesses do not need to contact the IRS for assistance.

If an affected taxpayer moves to a disaster area after filing their return, they may be eligible for assistance. If they receive a late filing or payment penalty notice, they are encouraged to call the number on the notice to request that the penalty be reduced.

The IRS will also work with taxpayers who live outside the disaster area if their records needed to meet the filing deadline are located in the affected area. These people should contact the IRS directly at 866-562-5227 help planning. This includes workers assisting with relief efforts from recognized government or charitable organizations, as well as tax preparers with clients in the affected area.

Additional Assistance for Disaster-Related Losses

Individuals and businesses in disaster areas who suffered uninsured or uninsured losses from the storm can choose to claim these losses on their 2024 return or their 2023 return. Taxpayers have until October 15, 2025to make this choice. When claiming a loss, they must enter the FEMA declaration number 3614-EM on the way back. More details can be found at Publication 547including casualties, accidents and theft.

Eligible disaster relief payments are generally not included in gross income. This applies to money received for necessary personal, family, residential, or funeral expenses, as well as repairs to the home or its contents. More information about this release can be found at Publication 525which includes taxable and non-taxable income.

Taxpayers affected by a disaster may also be eligible for special provisions related to retirement plans and individual retirement plans (IRAs). For example, they can take a special disaster distribution without facing a 10% early distribution penalty or make a hardship withdrawal. Each retirement plan or IRA has specific rules that participants must follow.