NCACPA is delivering this white paper to legislative leaders this week urging approval for broadened interest waiver eligibility for taxpayers impacted by Hurricane Helene. Last week, the General Assembly granted an interest waiver on late payments, but only for individuals and businesses located in the designated disaster counties. Many taxpayers whose tax preparers or records are located in the disaster area but who themselves are not located in a designated disaster county still face tax compliance challenges due to the disruption of services.
NCACPA respectfully recommends that the General Assembly amend S.L. 2024-51 to clarify that the interest waivers granted in Section 13.1(a), (b), and (c) extend to taxpayers whose tax preparer or records necessary to meet a tax deadline are located in a county identified in Section 4(b) of the Act. This statutory change would mirror the penalty relief already afforded to these taxpayers, thereby easing the burden of tax compliance for these taxpayers and their tax professionals.
Legislators are scheduled to return to Raleigh for a voting session on Oct. 24. Stay tuned for more information.