The IRS issued news release IR-2017-150 describing tax-related deadline relief for victims of Hurricane Irma in Florida, Puerto Rico, and two of the U.S. Virgin Islands. The relief includes certain retirement-related deadlines as well.
IRA and Retirement Plan Transactions
In addition to tax return deadlines falling within the specified dates, the relief includes an extension of time to complete certain time-sensitive tax-related acts defined under Treasury Regulation 301.7508A-1(c)(1). This includes completion of rollovers or recharacterizations, correction of certain excess contributions, making plan loan payments, filing Form 5500, and certain other acts.
Effective Dates and Locations
Deadlines that fall on or after the following IRS-identified storm event dates and on or before January 31, 2018, are extended to January 31, 2018. The start dates are as follows, by location.
- September 4: Florida (counties of Broward, Charlotte, Clay, Collier, DuVal, Flagler, Hillsborough, Lee, Manatee, Miami-Dade, Monroe, Palm Beach, Pinellas, Putnam, Sarasota, and St. Johns)
- September 5: Puerto Rico (municipalities of Culebra and Vieques)
- September 5: U.S. Virgin Islands (Islands of St. John and St. Thomas)
Locations Subject to Change
The IRS issues disaster-related tax relief news releases at its disaster web page that identify the deadline extension period and specific areas included in the relief. The applicable areas are subject to revision, and additional counties, municipalities, etc., could be added. See the IRS website for the most current news releases and their details.
Individuals Eligible for Relief
The relief applies specifically to residents of the identified areas, to those whose businesses or records necessary to meet a covered deadline are located there, and to certain relief workers providing assistance following the disaster events. Any individual visiting a covered disaster area who was injured or killed as a result of the events is also entitled to deadline relief. Affected taxpayers who reside or have a business located outside the covered disaster area are required to call the IRS disaster hotline at 866-562-5227 to request relief.