With the tax deadline in several New York counties extended to May 15 due to natural disasters, taxpayers have extra time at their disposal to file their tax returns. Here’s how to file taxes if you are in one of the counties in New York with an extension.
Most taxpayers across the country have filed their taxes by April 18. However, if they filed the IRS Form 4868 on or before the tax deadline, they have until October 16, 2023, to submit their tax return. But, even with an extension, taxpayers must pay at least 90% of their tax liability by the regular filing deadline. On March 24, the IRS extended the deadline to file taxes in seven states, including New York counties, due to severe storms and other natural disasters in December 2022. The extension gave many taxpayers in the select states more time to file their 2022 federal tax returns.
IRS Extends Tax Filing Deadline In Some States
The IRS extended the tax filing deadline in California, Georgia and Alabama. The aim is to provide some relief to taxpayers in designated disaster areas in storm-hit states.
Taxpayers in certain counties across Arkansas, Mississippi, New York and Tennessee can file their federal individual and business 2022 taxes as per the extended deadline. However, the IRS has set a different deadline for each state.
Eligible individual taxpayers and businesses include victims of severe weather conditions or disasters in a location recognized by the Federal Emergency Management Agency (FEMA). Along with additional time to file the taxes, the IRS has provided other reliefs to eligible individuals and businesses. They also get more time to contribute to IRAs and Health Savings Accounts (HSAs).
New Deadline to File Taxes in New York Counties
The IRS extended the previous April 18 deadline for New York counties to file their taxes. The tax relief postpones tax filing between December 23 and December 28, 2022.
With the new provision, taxpayers in storm-affected areas of the state have until May 15, 2023, to file their federal individual and business tax returns, according to the IRS. They can also make certain tax payments originally due during the previous tax deadline until the extension.
To qualify for the extension, taxpayers must provide an address of record in the disaster area. Eligible counties include:
- St. Lawrence
Taxpayers and businesses affected by the blizzard of 2022 in these counties get more time to file their taxes. You can communicate with the New York State Department of Taxation and Finance for any assistance regarding the extension.
Forms Required to File Taxes with Extension
Eligible taxpayers could request an automatic extension to file their taxes if they weren’t able to file on time due to the severe weather conditions using these forms:
- Form IT-201: Use this to file Resident Income Tax Return
- Form IT-203: It is eligible for filing Nonresident and Part-Year Resident Income Tax Return
- Form IT-203-Gs: This form is required for Group Return for Nonresident Partners. It is important to note that group agents must share the unique identification number designated to their partnership in the Social Security number field.
- Form IT-204: Partnership Return
- Form IT-205: Fiduciary Income Tax Return
When Can You File Your Tax Extension Request
You must file your tax extension request on or before the deadline to file your return. You should no longer get an extension of time to file the return after the due date of March 15. If you plan to file an extension request after the deadline for your return, it will be considered invalid.
Suppose you stay outside the designated disaster area but have documents and records in an affected area that can significantly impact your eligibility to file taxes. In that case, you are advised to contact the IRS at 866-562-5227.
They will help you determine your qualification to file for an extension per the requirements.
Taxpayers in storm-impacted New York counties can contribute to their health savings accounts (HSAs) and IRAs as per the updated tax filing deadline of May 15, 2023. However, you must check the contribution limits for both IRA and HSA that applies to you.
Relief For Taxpayers in New York counties
The IRS also designated the extended tax deadline for taxpayers in selected New York storm-hit counties to the 2023 estimated tax payments. For instance, if you had an estimated tax payment due on January 17, 2023, you may be allowed to skip that payment and incorporate it with your tax return filed on or before May 15.
In addition, as per the IRS, if you are a farmer in storm-affected areas of the New York counties who typically files your tax return by March 1, you get an extension until May 15 to submit your taxes. The tax collecting agency allows you to pay any estimated tax payments and due tax (if any) during the extended time.
Another relief includes the reduction of penalties on payroll and excise on tax payments due on or post-December 23, 2022, and before January 9, 2023. However, these exceptions will be considered as long as the tax deposits were paid by the January 9 deadline.
If you want to file after April 18 and before May 15, taxpayers in disaster-hit areas can only file their extension requests offline on paper.
The IRS automatically delivers relief to taxpayers living in a disaster area. Therefore, they don’t need to contact the agency to inquire about the relief or apply for it.
How to File Taxes in New York Counties with Extension
Businesses hit by the 2022 blizzard in Erie, Genesee, Niagara, St. Lawrence or Suffolk counties in New York can request an extension online with the IRS.
On the other hand, individual taxpayers can use the IRS Free File to file their tax returns electronically by the extended deadline. The IRS provides two easy and free ways to file taxes. It can be done either through the IRS Free File or Direct Pay – both of these features are available on IRS.gov.
They can make the payments online through account services, with credit or debit cards or schedule with Direct Pay with the help of the Electronic Federal Tax Payment System.
Some tips you must keep in mind while filing your taxes in New York counties with extension include:
- You will require forms and documents detailing the amount of money you earned and tax-deductible expenses you made. Here’s a list of some of the forms you may need:
- One or multiple W-2 forms from your employer
- Forms 1099 and 1099-INT describe other income and interest statements.
- Receipts for tax-deductible expenses such as charitable donations, state and local taxes, medical expenses and any self-employment business expenses, among other payments, in case you want to itemize your tax return.
- Choose your tax filing status carefully. The status is based on whether or not you are married. Your tax filing status impacts the percentage you pay for your household expenses.
- It is crucial to decide the mode of filing your taxes. The IRS suggests using its free tax filing software to file your return electronically most efficiently and accurately.
- Submit all your documents and tax return by the latest filing deadline on May 15, 2023.
With the new extension, taxpayers in disaster-hit New York counties can file their taxes until May 15. People living in or working in Erie, Genesee, Niagara, St. Lawrence and Suffolk counties qualify for the tax extension. Note that the extension is aimed at helping taxpayers affected by severe weather. Ensure you file your 2022 tax returns per the updated deadline to avoid penalties. The Tax Department is consistently working with taxpayers filing late due to the storm’s repercussions to ensure they are not penalized for late filing. To ensure you have a seamless tax-filing process online, file your federal and state taxes with Line. Get 100% error-free returns with $10,000 IRS penalty protection and the maximum refund possible or a cashback of $250! File for absolutely FREE!