These individuals have an extended deadline to file their forms, but the 2024/2025 fiscal year tax due was over two weeks ago.
In most cases, you must personally petition to the IRS prior to the deadline if you require an extension to file your tax returns.
However, the IRS occasionally grants a blanket extension to a specific group without requiring these persons to ask for the extension prior to the deadline due to unanticipated circumstances that impact a large number of people.
There will be no more extensions after the IRS tax deadline
Generally speaking, you must seek for an extension before the tax deadline if you require one in order to file your taxes.
It’s crucial to remember that the extension is only intended to postpone the filing deadline; all taxpayers are still required to pay their taxes by the deadline.
Those who were granted a tax filing extension for this year have until October 15 to file. You will be subject to a “Failure to File” penalty if you missed the April 15 deadline and were denied an extension.
The longer you delay to pay and file your taxes, the higher the penalty, which is based on the amount of tax you owe the IRS.
The IRS strongly advises that you pay your penalty fee and file as quickly as possible if you find yourself in this situation.
Extension for these persons till May 1st
Most people will need to request a personal extension, but if you live in Georgia and haven’t filed your taxes yet, you’re in luck.
All people and businesses impacted by Hurricane Helene, which started on September 24, 2024, have until May 1 to file their tax returns, according to an IRS official statement on extensions.
Additionally, because of the catastrophic disaster, all households in all 159 Georgia counties were eligible for tax relief. Last October, the extension was declared.
You still have time to ask for an extension if you live in Georgia and expect to need more time to submit your taxes after the new May 1 deadline.
You can only use Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, and you must send the form rather than apply electronically. You must do this before May 1st.
Large tax breaks for farmers
Georgia made sure that farmers received a sizable portion of the help after Hurricane Helene. A significant portion of the state’s GDP is derived from agriculture. In the United States, Georgia is a major producer of peanuts, eggs, and broilers.
Taxpayers who were not impacted by natural disasters should pay and file their taxes on time, even though Georgia residents may have been permitted to file their returns later.
The IRS advises that you file your taxes, pay what you can, and arrange for an official payment plan with the IRS to settle your tax liability, even if you are unable to pay the whole amount due. T
To prevent further payments and interest, it’s critical to keep the IRS informed about your financial status at all times.
