Hawaii wildfire victims receive tax filing extensions from the IRS

Image from the County of Maui in Hawaii, shows wildfire in Lahaina, on Aug. 9th, 2023.

Hawaii taxpayers in Maui and Hawaii counties are receiving tax relief from the IRS amid the wildfires. The relief allows taxpayers until February 15th, 2024 to file various federal individual and business tax returns and make tax payments that would have been due before then.

Various tax filings and payment deadlines that occurred from August 8th, 2023 are now postponed through February 15th, 2024. This includes:

• Calendar year tax exempt organizations whose extensions run out on Nov. 15th, 2023.

• Individuals who had a valid extension to file their 2022 return due to run out on Oct. 16th, 2023.

• Calendar year corporations whose 2022 extensions run out on Oct. 16th, 2023.

• Quarterly estimated income tax payments normally due on Sept. 15th, 2023, and Jan. 16th, 2024.

• Calendar year partnerships and S corporations whose 2022 extensions run out on Sept. 15th, 2023.

• Quarterly payroll and excise tax returns normally due on Oct. 31st, 2023, and Jan. 31st, 2024.

Additionally, any penalties for failure to make payroll and excise tax deposits due on or after Aug 8th, 2023 and before Sept. 7th, 2023, will be abated as long as the deposits are made by Sept. 7th, 2023.

The Federal Emergency Management Agency (FEMA) designates the area where this IRS relief is available. You can find the current list of eligible localities on the disaster relief page on the IRS website.

If you would like to read more in depth on this tax relief, click here for CPA Practice Advisor’s article.