The Internal Revenue Service (IRS) is reminding small businesses in 14 states and 2 territories about the upcoming tax deadline for those affected by severe weather in 2024. Businesses in these areas received extensions to file their 2023 returns due to natural disasters and will now need to file in 2025.
Depending on their location, some small businesses have a deadline of February 3, while others have until May 1 to file their returns. The IRS grants tax extensions to businesses and individuals impacted by severe weather events such as hurricanes, tornadoes, earthquakes, or other natural occurrences designated as disasters by the Federal Emergency Management Agency.
Small businesses in Louisiana, Vermont, Puerto Rico, the Virgin Islands, and parts of Arizona, Connecticut, Illinois, Kentucky, Minnesota, Missouri, Montana, New York, Pennsylvania, South Dakota, Texas, and Washington have an earlier deadline of February 3. On the other hand, taxpayers in Alabama, Florida, Georgia, North Carolina, South Carolina, and parts of Alaska, New Mexico, Tennessee, Virginia, and West Virginia have until May 1 to file their 2023 returns.
For these taxpayers, May 1 will also be the deadline for filing their 2024 returns and paying any tax due. Additionally, taxpayers in Israel, Gaza, the West Bank, and some others affected by terrorist attacks in Israel have until September 30 to file and pay, including all 2023 and 2024 returns.
