Federal tax deadlines extended to May 15 for parts of New York state

The IRS announced disaster relief that extends federal tax deadlines for taxpayers in certain New York counties to May 15, 2023. This relief is in response to the winter storms and flooding during December 2022, and the Federal Emergency Management Agency’s resulting disaster area declarations.

Federal tax deadline relief eligibility

The covered disaster area includes Erie, Genesee, Niagara, St. Lawrence and Suffolk counties in New York state.

The federal tax relief applies to:

• Individuals who live in the covered disaster area,
• Businesses (including tax-exempt organizations) whose principal place of business is located in the covered disaster area,
• Certain relief workers in the covered disaster area, and
• Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline are in the covered disaster area.

Relief provided

Affected individuals and businesses will have until May 15, 2023, to file returns and pay any taxes that were originally due.

The May 15, 2023, deadline also applies to:

• Quarterly estimated tax payments (typically due on Jan. 15 and April 15), and
• Quarterly payroll and excise tax returns (normally due on Jan. 31 and April 30).

Additionally, penalties on payroll and excise tax deposits due on or after Dec. 23, 2022, and before Jan. 9, 2023, will be abated as long as the tax deposits were made by Jan. 9, 2023.

Requesting additional extensions

Taxpayers generally may request additional extensions of time to file their federal income tax returns. For example, individual taxpayers may request extensions of the filing deadline for their 2022 tax returns to Oct. 15, 2023. These additional extensions would not extend the due date for tax payments. After April 18, 2023, and before May 15, 2023, disaster area taxpayers can file their extension requests only on paper.

Casualty losses

Affected taxpayers with casualty losses attributable to the federally declared disaster may elect to take losses into account either in the tax year the loss occurred or the prior tax year. 

Questions?

Please reach out to your Baker Tilly advisor if you have questions regarding how the federal and tax deadline relief affects you.

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.