Hurricane damage on the coast of North Carolina
Hurricane damage on the coast of North Carolina Bloomberg News

Victims of Hurricane Matthew that took place in October in parts of North Carolina may qualify for tax relief from the IRS.

Following the recent disaster declaration from the Federal Emergency Management Agency, the IRS announced that affected taxpayers may qualify for relief if they live or have a business in any of these counties in the state:

Anson, Beaufort, Bladen, Bertie, Brunswick, Chatham, Columbus, Cumberland, Camden, Carteret, Chowan, Craven and Currituck; Dare, Duplin, Edgecombe, Franklin, Gates, Greene, Hyde, Harnett, Hoke, Halifax and Hertford; Jones, Johnston, Lenoir, Lee, Martin, Moore, Montgomery, Nash, Northampton, New Hanover and Onslow; Pitt, Pamlico, Pasquotank, Perquimans, Pender, Robeson, Richmond, Scotland, Sampson, Tyrrell, Wake, Washington, Wayne, Wilson or Warren.

The IRS can postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Oct. 4, 2016, and on or before March 15, 2017, have been postponed to March 15. This includes the Jan. 17 deadline for making quarterly estimated tax payments and the 2015 individual returns on extension to Oct. 17.

Also included are the Oct. 31 and Jan. 31 deadlines for quarterly payroll and excise tax returns.

The IRS is waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after October 4, as long as the deposits were made by Oct. 19.

If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the number on the notice.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. Affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at (866) 562-5227 to request this relief.

Jeff Stimpson

Jeff Stimpson is a veteran freelance journalist who previously served as editor of The Practical Accountant.