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New York Tax Deadline: File by May 15 to Avoid Penalties

The New York tax deadline extension applies to all disaster-hit taxpayers in the designated counties of Erie, Genesee, Niagara, St. Lawrence and Suffolk. File by May 15 to avoid penalties.
new york state tax filing deadline 2023
New York Tax Deadline: File by May 15 to Avoid Penalties
In March, the Internal Revenue Service announced major tax relief for certain disaster-hit states, including New York. The agency extended the New York tax deadline in certain counties to May 15, 2023, to provide more time to affected individual taxpayers and businesses to file their 2022 tax returns.
In this article

Today is the last day to file taxes under the extended New York tax deadline in counties affected by 2022 storm conditions. The purpose of this blog is to explain how you can avoid paying late fees in New York counties by filing your taxes before the May 15, 2023, deadline.

This relief came in response to the winter storms in New York counties between December 23 and December 28, 2022, and the disaster area declarations by the Federal Emergency Management Agency (FEMA). 

New York counties eligible for the relief include: 

  • Erie
  • Genesee
  • Niagara
  • St Lawrence
  • Suffolk

Eligible Taxpayers under New York Tax Deadline Extension

The IRS New York tax deadline extension in these counties applies to:

  • Individual taxpayers living in covered disaster areas;
  • Businesses whose primary place of operations is located in the FEMA-covered disaster area;
  • Some relief workers staying in the disaster-hit locations; 
  • And taxpayers who don’t reside in the disaster area but have records important to meet extended deadlines in the FEMA-designated area.

Tax Relief Provided 

New York taxpayers and businesses affected by the hurricane of 2022 have until May 15, 2023, to file their tax returns. As a result, the April 18, 2023, tax deadline has been extended for New Yorkers, allowing them more time to pay taxes that had originally been due.

The relief of the New York tax deadline extension also postpones several tax filing and payment deadlines taking place with effect from December 23, 2022. In the case of disaster-hit taxpayers, the deadline for making contributions to their IRAs and health savings accounts has been extended to May 15.

In addition, the new May 15 New York tax deadline also applies to quarterly estimated tax payments typically due on January 15 and April 15 and quarterly payroll and excise tax returns (due on January 31 and April 30).

Moreover, if taxpayers deposit by January 9, 2023, the IRS will abate any penalties on payroll and excise tax deposits made after December 23, 2022.

Taxpayers with an IRS address of record in a designated disaster area are entitled to certain filing and penalty reliefs under the New York tax deadline extension. In this way, taxpayers do not need to contact the agency separately in order to seek relief from the tax system. The IRS also urges affected taxpayers to contact the agency if they receive any late filing notice to have the penalty abated.

Also Read: Does filing tax extension increase audit

Requesting Additional Extensions

In addition, the IRS offers taxpayers the option of requesting additional tax return extensions.

For instance, individual taxpayers can request more time to file their 2022 tax returns until October 15, 2023. There will, however, be no additional time for tax payments on the original due date. To prevent delays or complications, it is advisable for taxpayers to file for a New York tax extension electronically. Alternatively, if electronic filing is not possible, taxpayers may submit their extension requests on paper. The deadline for paper submissions is between April 18, 2023, and May 15, 2023.

If any affected taxpayers require more time to file their 2022 tax return beyond the May 15 deadline are requested by the IRS to file for additional time within the stipulated deadline to avoid any delays. 

The IRS is working with taxpayers with addresses in disaster-hit New York counties to ensure they meet the tax filing deadline. 

Also know about: free self employed tax filing

Penalty Under New York Tax Deadline Extension

There will be no penalty for those individual taxpayers and businesses in New York counties affected by the storm if they are filing their tax return on or after December 23, 2022, through May 14, 2023.

also know about: federal income tax

Penalty for Late Tax Filing

If you failed to file your taxes by the deadline and did not request an extension, you may be subject to various penalties. For missed deadlines, the IRS may impose a failure-to-file penalty. You may receive a failure-to-pay penalty if you fail to pay your owed by the required deadline. Interest will also be charged on both taxes and penalties owed. 

There’s typically an interest on the tax that must be submitted before the original due date for filing the return. This penalty also applies to taxpayers who have received an extension to file their return. In a majority of cases, an interest is not waived in most cases.

If you file your tax return late, even after receiving an extension, there’s a charge of 5% of the tax. This penalty is due every month. It goes until a maximum of 25%. Furthermore, if the return is over 60 days delayed, a minimum penalty is levied, ranging between $100 or the total amount due on the return.

How to Avoid Late Tax Filing

An important thing to do to avoid a penalty for late tax filing is to ensure filing all returns on time. If you can’t do so, seek an extension or a payment plan to avoid any penalty. Requesting an extension using Form 4868 allows you to obtain more time for filing your tax return. However, remember you will not have extra time to pay your taxes. To avoid penalties for late filing, you have until October to submit your 2022 tax return.

Additionally, ensure a smooth filing process by avoiding any errors. Take the time to carefully review the details on your tax forms, including personal information, Social Security number, and other important details. Ensure to report all your income from self-employment jobs, freelancing and other sources.

How to File Taxes with Beem

Beem is a user-friendly, tax filing platform that caters to all taxpayers. From gig workers to self-employed small business owners, Beem makes it easy to file 2022 tax returns. Users can file both federal and state taxes at the best prices, regardless of the form or filing status, and get the maximum refund.

Conclusion

The New York tax deadline extension applies to taxpayers affected by disasters in the designated counties. Eligible counties include Erie, Genesee, Niagara, St. Lawrence and Suffolk. It is important to file all tax returns on time to avoid any penalties. To avoid penalties, it is important to review all your documents and forms carefully. Filing taxes electronically through the IRS portals or with Beem is simple. Additionally, if needed, you can request an extension to file your taxes using Form 4868 with the IRS.

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Author

Picture of Monica Aggarwal

Monica Aggarwal

A journalist by profession, Monica stays on her toes 24x7 and continuously seeks growth and development across all fronts. She loves beaches and enjoys a good book by the sea. Her family and friends are her biggest support system.

Editor

This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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