The IRS has extended tax relief to victims of the devastating Hawaii wildfires, providing much-needed breathing room for affected taxpayers. This extension is a crucial measure, especially for those struggling to recover from the disaster’s impact. Here’s what you need to know about the new deadlines, eligibility, and how to take advantage of the available resources.
New Deadline Extension
For those affected by the Hawaii wildfires, the IRS has postponed the tax-filing and tax-payment deadlines to August 7, 2024. This extension applies to individuals and businesses alike, allowing more time to organize financial affairs and ensure accurate filing. If you were impacted by the wildfires on August 8, 2023, you may be eligible for this extended deadline.
It’s essential to adhere to this new deadline, as failing to do so could result in interest or penalties. Filing your tax return and paying any owed taxes by August 7, 2024, will help you avoid these unnecessary costs.
Filing Extension Request
To benefit from this relief, you must be a disaster-area taxpayer. This status allows you to request an extension for filing between April 15 and August 7, 2024. Remember, these extension requests must be submitted on paper; electronic submissions are not accepted for this specific relief measure.
Timely Tax Payment
Even with an extension, your tax liability is due by the new deadline. It’s crucial to pay any taxes owed by August 7, 2024, to avoid penalties. The IRS emphasizes that timely payment is just as important as timely filing, so make sure to meet this obligation.
IRS Support and Resources
The IRS offers various free resources to assist taxpayers, especially those impacted by disasters. In Hawaii, affected individuals can access help through the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs. These services provide free tax preparation assistance, making it easier for you to file your returns accurately.
For those with an Adjusted Gross Income (AGI) of $79,000 or less, IRS Free File’s Guided Tax Software is available. This tool offers free, guided tax preparation to eligible taxpayers, helping you maximize deductions and credits. Additionally, AARP Tax-Aide centers provide free assistance to older Americans and can be found online at AARP Tax-Aide Locations.
Taking advantage of these resources can save you time and money, ensuring your tax affairs are in order despite the challenges posed by the wildfires.
The IRS’s extension for Hawaii wildfire victims offers a valuable opportunity to focus on recovery without the immediate pressure of tax deadlines. Utilize the available resources and make sure to file and pay your taxes on time to avoid complications.
FAQs
What is the new IRS deadline for Hawaii wildfire victims?
The new deadline is August 7, 2024.
Who qualifies for the tax deadline extension?
Victims of the Hawaii wildfires on August 8, 2023.
How do I request a filing extension?
Submit a paper request to the IRS by the new deadline.
What free tax help is available?
VITA, TCE, and IRS Free File are available for assistance.
Can I get free tax preparation software?
Yes, if your AGI is $79,000 or less, you qualify for Free File.
