On 4 April 2024, the US Internal Revenue Service (IRS) announced a tax relief for individuals and businesses in parts of Maine affected by severe storms and flooding that began on 9 January 2024. These taxpayers now have until 15 July 2024, to file various federal individual and business tax returns and make payments.
According to an IRS release—IR-2024-93 —the tax relief is offered to any area designated by the Federal Emergency Management Agency (FEMA), which currently includes Cumberland, Hancock, Knox, Lincoln, Sagadahoc, Waldo, Washington, and York counties. Individuals and households residing or owning businesses in these localities qualify for tax relief. As a result, affected individuals and businesses will have until 15 July 2024, to file returns and pay any taxes that were originally due during this period.
The 15 July 2024, deadline will now apply to:
- Individual income tax returns and payments normally due on 15 April 2024;
- 2023 contributions to individual retirement arrangements (IRAs) and health savings accounts for eligible taxpayers;
- Quarterly estimated income tax payments normally due on 16 January 2024, 15 April 2024, and 17 June 2024;
- Quarterly payroll and excise tax returns normally due on 31 January 2024 and 30 April 2024;
- Calendar-year partnership and S corporation returns normally due on 15 March 2024;
- Calendar-year corporation and fiduciary returns and payments normally due on 15 April 2024;
- Calendar-year tax-exempt organization returns normally due on 15 May 2024.
Penalties for failing to make payroll and excise tax deposits due on or after 9 January 2024, and before 24 January 2024, will be abated as long as the deposits were made by 24 January 2024.
