IRS Announces Tax Relief for Victims of Tropical Storm Ernesto in USVI; Various Deadlines Postponed to Feb. 3, 2025

The U.S. Internal Revenue Service announced today tax relief for individuals and businesses in the U.S. Virgin Islands that were affected by severe storms and flooding that began on Aug. 13, 2024. According to the release these taxpayers now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments. Following the disaster declaration issued by the Federal Emergency Management Agency, individuals and households that reside or have a business in the islands of St. Croix, St. John, St. Thomas, and Water Island qualify for tax relief. The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after Aug. 13, 2024, and before Feb. 3, 2025, are granted additional time to file through Feb. 3, 2025. As a result, affected individuals and businesses will have until Feb. 3, 2025, to file returns and pay any ...