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Tax Relief for Maine

Updated: May 28

The Internal Revenue Service (IRS) has announced tax relief measures for individuals and businesses in areas of Maine impacted by severe storms and flooding starting from December 17, 2023. Affected taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make necessary tax payments. This relief applies to areas designated by the Federal Emergency Management Agency (FEMA), currently encompassing several counties including Androscoggin, Franklin, Hancock, Kennebec, Oxford, Penobscot, Piscataquis, Somerset, Waldo, and Washington.

The tax relief postpones various tax filing and payment deadlines that occurred from Dec. 17, 2023, through June 17, 2024 (postponement period). As a result, affected individuals and businesses will have until June 17, 2024, to file returns and pay any taxes that were originally due during this period. This includes income tax returns, contributions to IRAs and health savings accounts, estimated income tax payments, payroll and excise tax returns, partnership and corporation returns, and tax-exempt organization returns. Additionally, penalties for failing to make payroll and excise tax deposits during the specified period will be abated if deposits are made by January 2, 2024. The IRS disaster relief page provides comprehensive details on eligible actions during the postponement period.

Taxpayers located in the disaster area automatically receive filing and penalty relief, but those outside the area with necessary records within it must contact the IRS for assistance. Affected individuals and businesses are also granted extensions for certain tax-filing activities beyond June 17, 2024, with requests needing to be submitted by April 15. Moreover, additional tax relief options are available for those who suffered uninsured or unreimbursed disaster-related losses, including special rules for disaster relief payments and provisions for retirement plans or individual retirement arrangements. This coordinated federal response aims to assist in the recovery efforts following the storm damage, with further updates from the IRS anticipated in the future.

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