Frances Lin joined the Island News team in March 2024 as a Digital Content Producer. She is from Taipei, Taiwan and lived in the U.S. for the past 12 years.
Fran has been in the news industry for 10 years and was most recently a reporter for KATU News in Portland, Oregon. Prior to that, she was a reporter for KOLR 10 News in Springfield, Missouri after graduating from the University of California, Davis with a Bachelor of Arts degree in Psychology and Communication.
As a licensed skydiver, Fran enjoys jumping out of airplanes for fun. She also likes art, cooking, and is a pom-mom to a 4 lb white fluffy Pomeranian.
HONOLULU (Island News) – The IRS is once again extending tax-filing and tax-payment deadlines for Hawaii wildfire victims. This time, it’s postponed until Aug. 7.
People, businesses and tax-exempt organizations in Maui and Hawaii counties, as designated by the Federal Emergency Management Agency (FEMA), are eligible for this relief. The IRS says it has an updated the list of eligible localities on its Tax Relief in Disaster Situations page on IRS.gov.
This extension includes many tax filing and payment deadlines spanning from Aug. 8 2023 through Aug. 7 2024. People and businesses now have until Aug. 7 2024 to file returns and pay any taxes originally due during this period.
The IRS says some examples of the Aug 7 deadline include:
• Individual income tax returns and payments normally due on April 15, 2024.
• 2023 contributions to IRAs and health savings accounts for eligible taxpayers.
• Quarterly estimated income tax payments normally due on Sept. 15, 2023, and Jan. 16, April 15 and June 17, 2024.
• Quarterly payroll and excise tax returns normally due on Oct. 31, 2023, and Jan. 31, April 30 and July 31, 2024.
• Calendar-year partnership and S corporation returns normally due on March 15, 2024.
• Calendar-year corporation and fiduciary returns and payments normally due on April 15, 2024.
• Calendar-year tax-exempt organization returns normally due on May 15, 2024.
Taxpayers who had valid extensions to file their 2022 returns will also have until Aug. 7 to file them. However, payments for these returns are not eligible for relief as they were due before the wildfires occurred.
The IRS says it will automatically provide filing and penalty relief to taxpayers with an IRS address of record located in the disaster area. Those without an IRS address of record in the disaster area, but affected by the wildfires, should contact the IRS to request relief.
Taxpayers outside the disaster area, but whose records necessary to meet a deadline are located in the affected area, are also eligible for relief and should contact the IRS.
If you need additional filing extensions beyond Aug. 7 for 2023 federal income tax returns, the IRS asks you to request them electronically by April 15, 2024. Requests filed between April 15, 2024 and Aug. 7, 2024 must be submitted on paper. The deadline for filing will be extended to Oct. 15, 2024 with payments still due on Aug. 7, 2024.
Additionally, affected people and businesses who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on their 2023 or 2022 returns, with an extended deadline of Oct. 15, 2024.
The IRS says qualified disaster relief payments are usually excluded from gross income and additional relief may be available to affected taxpayers participating in retirement plans or individual retirement arrangements (IRAs).
Frances Lin joined the Island News team in March 2024 as a Digital Content Producer. She is from Taipei, Taiwan and lived in the U.S. for the past 12 years.
Fran has been in the news industry for 10 years and was most recently a reporter for KATU News in Portland, Oregon. Prior to that, she was a reporter for KOLR 10 News in Springfield, Missouri after graduating from the University of California, Davis with a Bachelor of Arts degree in Psychology and Communication.
As a licensed skydiver, Fran enjoys jumping out of airplanes for fun. She also likes art, cooking, and is a pom-mom to a 4 lb white fluffy Pomeranian.
