Tax season is officially upon us, with the filing deadline for federal tax returns set for April 15, 2025. However, due to the impact of Hurricane Helene last year, several counties and cities in Virginia, Georgia, and Florida are granted extensions until May 1, 2025. This extension offers a crucial reprieve for those affected by natural disasters, allowing them more time to prepare their tax documents.
In Virginia, counties such as Campbell, Appomattox, and several cities have received this extension. According to the IRS's website, residents in these areas are encouraged to take advantage of the additional time to file their returns. Michelle Catron, Office Supervisor at Liberty Tax in Lynchburg, emphasized, "At least that shows the IRS that you have a good intention of getting this done and at some point, you're going to make those arrangements and get this taken care of." Catron advised that individuals should not delay the process any longer, as doing so could raise red flags with the IRS.
In Georgia, the IRS also extended the Individual Income Tax return deadline to May 1 for residents affected by Hurricane Helene. The extension applies to individuals and businesses that had returns due during March or April 2025. Additionally, taxpayers who had valid extensions for their 2023 returns, set to expire on October 15, 2024, can also benefit from this delay. The IRS noted that tax payments related to these 2023 returns, however, were still due on April 15, 2024.
Florida taxpayers impacted by Hurricanes Debby, Helene, and Milton are also eligible for an automatic extension until May 1, 2025. This extension covers various federal individual and business tax returns and payments that were originally due during the tax season. As the IRS stated, "Affected taxpayers in all of Florida now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments." This includes 2024 individual and business returns normally due during March and April 2025.
As the tax deadline approaches, tax and cybersecurity experts are warning individuals to be vigilant against scams. Jon Powell, a CPA and partner at Moore Colson, cautioned, "The IRS will never send a link through email or via text." He urged taxpayers to verify any suspicious communications directly through the IRS's official channels.
For those who may still be scrambling to meet the April 15 deadline, there are options available. Taxpayers can file for an extension using IRS Form 4868, which must be submitted by the deadline. This extension grants an additional six months to file, pushing the deadline to October 15, 2025. However, it is important to note that this extension does not provide extra time to pay any taxes owed. Taxpayers are still responsible for ensuring that payments are made by April 15 to avoid penalties and interest.
To file for an extension, taxpayers can utilize several methods. They can pay any owed taxes online and check the box indicating they are filing for an extension, or they can use the IRS Free File service to electronically request an automatic extension. Alternatively, individuals can mail in Form 4868, ensuring it is postmarked by April 15.
As the tax season draws to a close, many individuals may wonder how to track their refunds. The IRS provides tools such as the "Where's My Refund?" online service, which allows taxpayers to check the status of their refunds. Generally, the IRS issues refunds within 21 days after receiving the tax return, with direct deposits being processed even faster.
It's also worth noting that new changes for the 2025 filing season allow the IRS to accept Forms 1040, 1040-NR, and 1040-SS, even if a dependent has already been claimed on a previously filed return, provided the primary taxpayer includes a valid IP PIN. This change aims to expedite the processing of tax returns and refunds.
As the April 15 deadline looms, it's vital for taxpayers to stay informed and proactive. With extensions available for those affected by hurricanes, individuals have a bit more breathing room to ensure their taxes are filed correctly. Whether you're in Virginia, Georgia, or Florida, make sure to take advantage of these extensions and avoid the pitfalls of late filing.
In summary, the tax landscape for 2025 is marked by extensions and new regulations that aim to assist taxpayers in navigating the complexities of filing their returns. With careful planning and awareness of potential scams, individuals can successfully meet their obligations while safeguarding their financial well-being.
