If you lived in an area affected by disasters last year, you have just one day to file your 2022 taxes.
The Internal Revenue Service postponed deadlines for the 2022 taxes until February 15 if you were affected by these disasters: Hurricane Idalia, Hurricane Lee, Tropical Storm Bolaven, Hawaii's wildfires and the seawater intrusion in Louisiana and storms in Illinois.
The disasters took place between August 8 and October 9, 2022, and spanned hundreds of counties from Florida to Maine.
The full list of impacted states includes Florida, Georgia, Guam, Hawaii, Louisiana, Maine, Massachusetts, the Northern Mariana Islands and South Carolina. Keep in mind, the specific county eligibility varies based on the state and where the disaster occurred.
The IRS typically offers relief to any area designated by the Federal Emergency Management Agency.
"As long as their address of record is in a disaster-area locality, individual and business taxpayers automatically get the extra time, without having to ask for it," the IRS said in a statement.
Taxpayers can see the full list of eligible locations on the disaster relief page on IRS.gov.
What To Know About Taxes This Year
For Americans filing their standard 2023 taxes, deadlines are fast approaching as well.
Federal income tax returns are due April 15. Those who request a six-month tax extension using Form 4868 by that day will have their deadline moved to October 15.
Tax preparation costs have also surged this year, according to the consumer price index. With costs increasing by 11 percent, many Americans might see their refunds disappear due to the money required to even get their tax forms to the IRS.
The average cost for more complicated returns will range between several hundred to potentially thousands of dollars for those who need more expertise than a free online site like TurboTax.
"As these prices continue to increase, it may imply that the demands of tax preparers and professionals are increasing as well, especially now that fewer students are going for accounting degrees," Joe Chappius, a tax expert at TaxClimate, told Newsweek.
The government has also been continuously adding and changing its tax codes, which adds extra hurdles to accountants amid an already persistent labor shortage.
"The industry itself is producing less and less accountants to file taxes, and overall technology, education and staffing costs also continue to rise," Stoy Hall, a certified financial planner and the founder and CEO of Black Mammoth website, told Newsweek.
Additional cyber threats also create additional hurdles for tax preparers as well, said Zack Hellman, the owner of Tax Prep Tech.
"With the rise of cyber threats, tax preparation firms are investing more in technology and security measures to protect client data," Hellman told Newsweek. "As taxes become more complicated, more people may seek professional help, driving up prices due to increased demand."
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
About the writer
Suzanne Blake is a Newsweek reporter based in New York. Her focus is reporting on consumer and social trends, spanning ... Read more
