The Internal Revenue Service announced tax relief for individuals and businesses affected by Hurricane Helene in North and South Carolina. Affected taxpayers will now have until May 1st, 2025 to file various federal individual and business returns and make tax payments. “The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area,” the IRS said in a news release. “For instance, certain deadlines falling on or after Sept. 25, 2024, and before May 1, 2025, are granted additional time to file through May 1, 2025. As a result, affected individuals and businesses will have until May 1, 2025, to file returns and pay any taxes that were originally due during this period.” The May 1st, 2025 filing deadline applies to: Individuals who had a valid extension to file their 2023 return due to run out on Oct. 15, 2024. The IRS noted, however, that because tax payments related to these 2023 returns were due on April 15, 2024, those payments are not eligible for this relief. Calendar-year corporations whose 2023 extensions run out on Oct. 15, 2024. “The May 1, 2025, deadline also applies to any payment normally due during this period, including the quarterly estimated tax payments due on Jan. 15 and April 15, 2025,” the IRS said. “The May 1, 2025, deadline also applies to the quarterly payroll and excise tax returns normally due on Oct. 31, 2024, and Jan. 31, and April 30, 2025. In addition, penalties on payroll and excise tax deposits due on or after Sept. 25, 2024, and before Oct. 10, 2024, will be abated as long as the tax deposits are made by Oct. 10, 2024.” The IRS automatically applies filing and payment relief for those located in the disaster area. Taxpayers outside of the covered disaster area in need of tax relief should call the IRS disaster hotline at 866-562-5227. For more information, click HERE.