News Summary
Residents and businesses in Virginia affected by severe winter storms and flooding on February 10, 2025, will receive tax relief from the IRS. This follows a disaster declaration from FEMA. Taxpayers in designated counties now have until November 3, 2025, to file taxes and make payments, helping them to focus on recovery instead of financial burdens. The IRS aims to alleviate financial stress for those impacted by the natural disaster with these relief measures.
Virginia residents and businesses impacted by severe winter storms and flooding that occurred on February 10, 2025, are set to receive tax relief from the Internal Revenue Service (IRS). This announcement comes in response to a disaster declaration made by the Federal Emergency Management Agency (FEMA).
The IRS tax relief measures will be available to residents in a number of affected counties and cities, allowing them until November 3, 2025, to file various federal individual and business tax returns, as well as make necessary tax payments. The list of designated areas for tax relief includes counties such as Amelia, Appomattox, Bedford, Bland, Botetourt, Buchanan, Buckingham, Campbell, Carroll, Charlotte, Craig, Cumberland, Dickenson, Floyd, Franklin, Giles, Grayson, Halifax, Lee, Lunenburg, Montgomery, Nottoway, Page, Pittsylvania, Powhatan, Prince Edward, Pulaski, Rockingham, Russell, Scott, Smyth, Tazewell, Washington, Wise, and Wythe, along with the city of Bristol.
The November 3 deadline specifically applies to individual income tax returns and payments that were originally due on April 15, 2025. Eligible taxpayers will also find the timeframe beneficial for contributions to Individual Retirement Accounts (IRAs) and health savings accounts for the year 2024, along with estimated tax payments that were initially due on April 15, June 16, and September 15, 2025.
Additionally, businesses affected by the storms will have the same November 3 deadline for filing their tax returns and making payments. Furthermore, companies will benefit from an abatement of penalties related to payroll and excise tax deposits that are due within the period commencing on February 10, 2025, and concluding on February 25, 2025, provided these deposits are made by the latter date.
Taxpayers who may inadvertently receive a late filing or payment penalty due to this postponement period are urged to reach out to the IRS at 866-562-5227 for assistance with penalty abatement. The IRS has indicated that it will automatically provide filing and payment relief to taxpayers located within the disaster area.
For those taxpayers residing or operating outside of the specified disaster areas but still seeking tax relief, it is recommended that they contact the IRS Special Services toll-free number at 866-562-5227 to request assistance. Tax practitioners who service clients located in the disaster area, but have access to records for taxpayers outside the area, can also contact the IRS Special Services for guidance on how best to proceed.
This tax relief measure is part of the IRS’s broader efforts to aid communities recovering from natural disasters, providing crucial support to help individuals and businesses manage their financial obligations during challenging times. The winter storms that significantly impacted Virginia resulted in widespread damage, prompting prompt action from both FEMA and the IRS to facilitate recovery efforts.
Residents and businesses should remain vigilant for any further updates from the IRS regarding their tax relief options and ensure they meet all necessary deadlines to prevent any complications with their filing status. By taking advantage of the relief available, those affected can focus more on recovery rather than financial stress.
Deeper Dive: News & Info About This Topic
- WSLS: IRS Announces Tax Relief for Taxpayers Impacted by Severe Weather in Virginia
- Wikipedia: Tax Relief
- WDBJ7: IRS Announces Tax Relief for Taxpayers Impacted by Severe Weather in Virginia
- Google Search: IRS tax relief
- Fredericksburg Free Press: The Tax Deadline in Virginia is May 1st
- Google Scholar: Tax Filing Deadline
- PC Patriot: Griffith Statement on IRS Tax Relief Announcement
- Encyclopedia Britannica: Tax Relief
- Kiplinger: States with IRS Tax Deadline Extensions
- Google News: Virginia tax relief
