Congress recently passed important legislation that will make it easier for taxpayers to get help when disasters strike. This new law means you won't have to wait as long for tax deadline extensions during emergencies.
What Changed?
The Filing Relief for Natural Disasters Act (H.R. 517) has been approved by both the House and Senate. It's now waiting for President Trump's signature to become law.
Previously, the IRS could only postpone tax deadlines after the federal government declared a disaster. This process often took weeks, leaving taxpayers stressed about meeting tax obligations while dealing with emergency situations.
How It Helps You
Under the new law, state governors can now request tax relief directly from the IRS when they declare a state disaster or emergency. This means:
- Faster relief - No need to wait for federal disaster declarations
- Earlier protection - Help arrives when your state acts, not weeks later
- Less stress - More time to focus on recovery instead of tax deadlines
The law applies to natural disasters, fires, floods, and explosions that cause significant damage in your area.
Important note: This relief will apply to disaster declarations made after the law is officially enacted.
What Tax Deadlines Can Be Extended?
The IRS will be able to postpone various federal tax deadlines, including:
- Filing federal tax returns
- Paying federal taxes
- Making retirement plan contributions
- Tax assessments and collections
Extended Relief Periods
The new legislation also increases automatic deadline extensions from 60 to 120 days for:
- Disaster relief workers
- Individuals injured or killed in federally declared disasters
- Taxpayers whose homes, businesses, or tax records are in disaster areas
What This Means for You
Disasters can strike without warning, and having the right support during tough times is essential. New laws now offer additional relief options for those affected.
If you’ve been impacted by a state-declared disaster, you may be eligible for special relief provisions. Staying informed of tax law changes ensures you can access the full range of available benefits.
Need Help During a Disaster?
If you're dealing with a disaster situation and have tax concerns, don't hesitate to contact Virtue CPAs. We're here to help you navigate these challenging times and ensure you get the relief you deserve.
Contact us at (678) 952-9001 or info@virtuecpas.com for assistance with disaster-related tax issues.
