The Internal Revenue Service (IRS) has implemented significant tax relief for taxpayers of Louisiana, both individual and commercial. This measure, issued in response to the disaster declaration by the Federal Emergency Management Agency (FEMA), allows several tax procedures to be postponed due to the impact of Hurricane Francine.
The new final deadline for filing 2023 federal taxes and certain payments is February 3, 2025. This relief applies to people with valid extensions whose initial due date was October 15, 2024. However, the IRS emphasizes that it will not apply to taxes due on April 15, 2024.
On the other hand, benefited companies include those with calendar year partnerships and S corporations that had a scheduled deadline of September 16, 2024, as well as corporations whose maturity was October 15, 2024. This measure also covers various tax payments that would normally be due within the extended period, including quarterly estimated taxes and payroll and excise tax returns.
Specific Measures and Procedures to Get the Tax Relief
The new provisions include that any penalty related to late deposits of payroll or excise taxes, which were due between September 10 and 24, 2024, will be waived if the deposits are made before September 25, 2024. Taxpayers can receive automatic notifications from the IRS for late filings, in which case they must contact the number indicated in the notice to request the cancellation of said penalties.
The IRS automatically identifies those affected in areas designated as disaster zones to expedite the implementation of relief. However, those who reside or operate outside of that area should contact the disaster hotline at 866-562-5227 to manage their condition.
Effects of Hurricane Francine on Louisiana
Hurricane Francine has severely impacted Louisiana’s infrastructure. Category 2 in intensity, with sustained winds of approximately 100 mph, caused extensive power outages and chaos on public roads since making landfall in Terrebonne. Francine’s arrival in Louisiana marked one of the most significant weather events of the season, significantly impacting communities still recovering from past disasters.
Reported Damage and Reaction of Authorities
Alvin Cockerham, fire chief in Morgan City, described the rapid flooding and damage caused as unusual from initial forecasts. Faced with this scenario, emergency operations remain restricted for safety reasons until conditions improve significantly. To date, no fatalities or injuries have been reported, despite the multiple associated risks.
The media highlights the onslaught of the sea on the dikes along with the persistent rains, exacerbating fears of flooding. In New Orleans, forecasts keep officials and citizens on alert, compatible with significant rise in water levels. The images released show waves hitting critical infrastructure, and communities taking precautionary measures to minimize the adverse impact of the meteor on their daily lives.
