The Association sent a correspondence to IRS Deputy Commissioner Mary Beth Murphy earlier this week requesting tax relief for additional North Carolina counties impacted by Hurricane Florence. We will provide any updates as soon as they are received.
Unrelated to hurricane relief, the Department of Revenue has stated they recognize a limited number of taxpayers may not be able to file a timely NC tax return as a result of the complexity of federal income tax changes, and as a result of the extended federal deadline (now the same as the extended state deadline). The Department will consider these factors as special circumstances (case-by-case basis) in granting a penalty waiver for failure to timely file a corporate income and franchise tax return, assuming there are reasons provided by the taxpayer on Form NC-5500 (Request to Waive Penalties).
Please reach out to us with any questions.