Tax season is a time of anxiety for many Americans. Nevertheless, this year in Eaton, Michigan, filing taxes was difficult because the town was hit with a series of storms, tornadoes, and floods in August 2023.
On account of these natural disasters, the Internal Revenue Service (IRS) has extended the due date for filing federal tax returns and making payments.
According to a recent Federal Emergency Management Agency study, almost 50% of disaster survivors within Eton suffer from financial hardship. The IRS tax relief aims to help ease some of the burden on residents in Eaton who are struggling financially due to this disaster.
This blog will provide more information about the Eaton tax deadline extension 2024, including who qualifies, which types of returns are covered by this extension, key dates and how to file taxes in Eaton.
Does Eaton Get a Tax Extension?
Yes, the IRS has granted a tax filing extension for residents affected by severe storms, tornadoes, or flooding that occurred in late August 2023. The deadline has been moved back four months from its original date of April 15, 2024. Various federal returns are now eligible, including individual income taxes and business taxes too, among others
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Eaton Tax Deadline Extension 2024
The usual day for filing taxes with the federal government is April 15. However, this deadline has been pushed back to June 17, 2024, for Eaton County residents affected by the hurricanes of 2023. This amendment affects many federal tax returns and payments made by individuals or businesses.
Key Dates to Remember
- Initial Deadline: April 15, 2024
- New Deadline: June 17, 2024
Who Qualifies for the Extension?
This extension applies to people who live in Eaton County, Michigan and their families or businesses there. If one of them meets the residency requirement, then spouses filing jointly also qualify for this relief.
What does the Extension Cover?
The following are the things that will covered under this extension:
- Individual income tax returns will benefit from this extension.
- Contributions made during calendar year 2023 to an IRA (individual retirement account) or HSA (health savings account)
- Quarterly estimated income tax payments and payroll and excise tax returns are also part of this extension.
- Business tax return
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How to File for an Additional Extension if Needed?
The storms have made a big impact on the residents of Eaton, so they will be able to breathe a little easier with the extended deadline of June 17, 2024. Nonetheless, some situations may make it difficult for people to file by then. In case you need it, here is how to file for an additional extension step by step.
Step 1: To request another six-month extension, visit the IRS website or get from the office.
Step 2: Then, fill out form 4868, which is an application for an automatic extension of time to file U.S. individual income tax returns.
Step 3: You can either e-file via the IRS website or through authorized e-filing providers; however, if you want to send the form through mailing, send it out well before June 17.
Step 4: Even though you have an extension, estimate your tax liability and try to submit the payment using Form 1040-ES (Estimated Tax) by April 15. That will help to avoid penalties.
Remember that filing an extension does not mean automatic approval and does not cover tax payments; also keep a copy of your submitted Form 4868 for future reference.
How to File Taxes in Eaton?
There are several ways to file your taxes in Eaton County:
- Electronically: The IRS strongly encourages electronic filing, considered the most secure and efficient method. Various online tax filing services allow taxpayers to prepare and submit their returns electronically.
- By Mail: Paper forms can be mailed to the IRS-designated address. However, this method is slower and more prone to errors.
- Tax Professionals: Consulting a tax professional like a certified public accountant (CPA) or enrolled agent can be beneficial for complex tax situations or those requiring additional guidance. You can also check out Beem for all your tax filing needs.
Conclusion
The tax deadline extension for Eaton County residents provides much-needed relief in the aftermath of the devastating storms. By taking advantage of this extension and utilizing online tax filing services, residents can ensure their tax returns are filed accurately and on time, minimizing the risk of penalties and maximizing their refund potential. AI-powered Beem can help you file your federal and state taxes without any hassle and ensure you get the maximum refund from the IRS.
