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Tax Alert: Relief for Federal Disaster Areas in South Carolina

State Department of Revenue and Internal Revenue Service Issue Guidance

October 8, 2015

On October 7, 2015, the Internal Revenue Service (IRS) issued SC-2015-71 to grant relief to taxpayers located in federal disaster areas of South Carolina.

Those counties now include Berkeley, Calhoun, Charleston, Darlington, Dorchester, Florence, Georgetown, Horry, Kershaw, Lee, Lexington, Orangeburg, Richland, Sumter and Williamsburg.

The announcement provides that certain deadlines falling on or after October 1, 2015 and on or before February 16, 2016 have been postponed to February 16, 2016, including the October 15 deadline for those who received an extension to file their 2014 return.

The IRS has also waived the failure-to-deposit penalties for employment and excise tax deposits due on or after October 1, 2015, as long as the deposits are made by October 16, 2015.

The South Carolina Department of Revenue (SCDoR) also announced that it will provide the same relief for the taxes that it administers.

More on this relief from the IRS and the SCDoR.

The IRS also provides a Disaster Resource Guide for Individuals and Businesses.

William M. "Bill" Wilcox IV is a member (partner) and practices in Greensboro with the firm's Tax Group.  He focuses on taxation or corporations and partnerships as well as pensions and benefits.