Timing of Section 7508A Postponed Filing Deadlines for Individuals and Passthroughs

The IRS has authority to grant postponement of up to one year for taxpayers impacted by federally declared disasters. Currently, the IRS generally provides a single postponed deadline to all taxpayers affected by disasters. For example, businesses and individuals affected by Hurricane Helene have until May 1, 2025 to file any properly extended 2023 tax returns. However, the postponement aligns the filing deadlines for businesses and individuals, which may not afford individuals who need certain business-related tax records sufficient time to complete their individual income tax returns. The AICPA recommends that certain categories of tax returns and payments be granted an additional 30-day period when affected taxpayers receive disaster-related postponements.