The tax deadline for winter storm-stricken victims in the state of New York has been extended to May 15, 2023, by the IRS.
For most citizens in the United States, April 18 was the final day to file their taxes without facing any late fees or interest. However, the Internal Revenue Service (IRS), on March 24, extended the deadline to provide taxpayers in several states affected by severe weather more time to submit their federal income tax returns in the tax season 2023.
Note that certain state governments adhere to the federal government’s timetable, while others may have their own schedule. As a taxpayer, you are advised to check the IRS website as well as your state tax portals to ensure you file your taxes within the deadlines.
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What Is The 2023 Federal Tax Deadline?
The official federal deadline to file your 2022 tax returns was April 18, 2023, Tuesday, in a majority of states. It was because April 15 was a Saturday and Monday, April 17, was recognized as Emancipation Day in Washington, DC.
While you can get an extension to file your taxes with the IRS until October 16, it doesn’t change the payment deadline. You will still be required to submit the amount owed in the form of taxes to the IRS to avoid late penalties. An extension only gives you extra time to complete the necessary paperwork.
There are nine states, including New Hampshire, South Dakota, Tennessee, Texas, Washington, Alaska, Florida, Nevada and Wyoming, which do not collect income tax from their residents.
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Why Tax Filing Deadline Extension Is Given?
The IRS announced extensions for tax filing in several states impacted by tornadoes and other unfavorable weather conditions.
New York is among those states where residents impacted by winter storms and snowstorms in December have been given until May 15, 2023, to file their returns and make payments. On March 24, the IRS announced to extend the deadline for federal individual and business tax returns and tax payments.
At the same time, those taxpayers in states like Arkansas and Mississippi who were affected by severe storms, winds and tornadoes in March were given until July 31, 2023, to file their taxes. The deadline for residents of Alabama, California and Georgia was extended to October 16 in the wake of winter storms and other natural disasters.
Those serving in the military abroad may also get an additional time to file their 2022 tax return, the IRS added. You can check the full list of states and their counties where the tax deadline was extended including New York on the IRS Tax Relief in Disaster Situations website.
Why Tax Deadline Was Extended In New York?
The tax deadline in New York was extended for individuals and businesses affected by storms and other critical weather changes. They now have until May 15, 2023, to pay taxes and file returns that were originally due in December 2022.
This deadline includes 2022 income tax returns due on April 18, as well as various 2022 business returns normally due on March 15. In addition, eligible taxpayers will have until May 15 to make 2022 contributions to their IRAs and health savings accounts.
The IRS also gave farmers who choose to forgo making estimated tax payments and normally file their returns by March 1 until May 15 to file their 2022 return and pay due taxes. This deadline also applies to the quarterly payroll and excise tax returns which is generally due on January 31 and April 30.
Who is Eligible For Tax Extension In New York?
The new federal tax deadline relief in New York applies to:
- Individuals who live in areas covered under disaster. Businesses (including tax-exempt organizations) whose principal place of business is situated in a covered disaster location.
- Certain relief workers are employed in the covered disaster areas.
- Taxpayers not in the covered disaster area, but whose records are essential to meet a deadline are in the covered disaster area.
What If I Need Another Tax Extension In New York?
There may be a situation where certain disaster-affected taxpayers are not able to file their returns until the May 15 deadline and need more time. In that case, the IRS allowed them to request additional time, if done electronically, before the original April 18 deadline.
There are two free and easy ways to file taxes and seek an extension. One is through the IRS Free File and another is the IRS Direct Pay, both of which are available on IRS.gov. It is important to note that after April 18 and before May 15, disaster area taxpayers are allowed to file their extension requests only on paper.
Penalty-Relief Protocols After Tax Deadline Extension
If you have an IRS address in an area located in a disaster-hit county or state, the IRS automatically provides filing and penalty relief to the taxpayer. As a result, taxpayers don’t have to contact the agency for any kind of relief. They can contact the officials to get their penalty abated if an affected taxpayer receives a late filing or late payment penalty notice from the IRS.
The IRS also allows taxpayers who live outside the disaster area but whose records meet a deadline taking place during the postponement period to be located in the affected area.
Taxpayers eligible for relief and living outside the disaster area can contact the IRS at 866-562-5227. These taxpayers also include workers assisting the relief activities in association with a recognized government or philanthropic organization.
One of the biggest reliefs provided by the IRS is that affected individuals and businesses have until May 15, 2023, to file returns and pay taxes originally due to the agency.
There are presidential disaster declarations that provide special options to taxpayers in order to recognize their gains/losses. Taxpayers who witnessed a casualty loss in a presidentially-declared disaster area can be eligible to recognize losses in the year prior to the year the casualty actually occurred. Keep in mind that such actions are time sensitive and taxpayers are encouraged to contact their advisor for their options to get full relief.
Disaster-Affected Areas In New York
The list of areas in New York where the new tax deadline applies and residents can file their return by the new May 15 deadline includes:
- Erie County
- Genesee County
- Niagara County
- St. Lawrence County
- Suffolk County
The May 15 tax deadline in New York also applies to:
- Quarterly estimated tax payments (typically due on Jan. 15 and April 15).
- Quarterly payroll and excise tax returns (normally due on Jan. 31 and April 30).
Affected taxpayers with casualty losses attributable to the federally declared disaster are eligible to take the losses into account either in the tax year the loss occurred or the prior tax year.
What Tax Forms You Need to File Taxes In New York?
If you are not able to file your taxes according to the deadline in New York and require more time to file, you can request an automatic extension of time with the help of the following forms:
- Form IT-201, Resident Income Tax Return
- Form IT-203, Nonresident and Part-Year Resident Income Tax Return
- Form IT-203-GR, Group Return for Nonresident Partners (Note: Group agents must enter the special identification number assigned to the partnership—that is, group ID 80081XXXX—in the Full Social Security number field.)
- Form IT-204, Partnership Return
- Form IT-205, Fiduciary Income Tax Return
How To File Taxes In New York?
Most New Yorkers choose to file their returns electronically as they are more accurate than paper-filed returns. There are some important points to keep in mind while filing your taxes in New York. It is important that you gather all the information required, including tax forms, personal information, birth dates, address, copy of last year’s tax return, and Social Security numbers among other details.
All income from full-time jobs, part-time or temporary work, self-employment, cash and supplemental employment are eligible for taxes. If you had multiple employers during the year, it is crucial you provide all information for every W-2 you received. Ensure that you file your tax return as per the deadline in New York.
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When Can I Expect My Refund?
According to the IRS, taxpayers who filed their taxes electronically can expect their return within 21 days of filing, given that they chose direct deposit and there are no issues with their return.
Late December saw several counties in western New York suffer the impact of mammoth snowstorms. Many communities got buried under several feet of snow. Residents hard hit by the severe weather that took place between December 23-28 in Erie, Genesee, Niagara, St Lawrence and Suffolk counties are eligible for a tax extension in New York. Impacted taxpayers will be required to include the FEMA declaration number (FEMA-4694-DR) in their tax forms to claim a loss suffered due to the storms.