Government

The NCDOR suspends certain late action penalties in response to the IRS pushing back tax deadlines

By Staff Report, posted 1 year ago

In response to the Internal Revenue Service postponing various federal tax filing and payment deadlines until Sept. 25, 2025, the N.C. Department of Revenue (NCDOR) will not assess (or will remove) certain late action penalties on selected state tax filings, payments, and licenses if the transactions are completed by Sept. 25, 2025.

The NCDOR initiated this suspension because it may not assess certain late action penalties for any period in which the time for filing a federal tax return or paying a federal tax due is “postponed” under IRC section 7508A because of presidentially declared disaster.

The details of this suspension are covered in the Important Notice published on the agency website at Important Notice: Additional Time for Victims of Hurricane Helene to Qualify for Penalty Relief | NCDOR

The N.C. General Assembly has provided interest relief through legislation until May 1, 2025, to taxpayers in the 39 counties declared disaster areas by the Federal Emergency Management Agency (FEMA). Taxpayers in the remaining 61 counties will accrue interest on any unpaid tax beginning April 16, 2025. Additional legislative action is required for any additional interest relief.

Ico insights

INSIGHTS

SPONSORS' CONTENT
cape-fear-eye-associates cory-worrell headshott

Cape Fear Eye Associates: Setting a Higher Standard in Vision Care

Cory Worrell - Director of Marketing, Cape Fear Eye Associates
firsthealth-of-the-carolinas michael-sundborg-md headshott

Bringing Color Back into Her Life After Cancer Diagnosis and Treatment

Michael Sundborg, M.D. - Gynecologic Oncologist, FirstHealth of the Carolinas
fayetteville-state-university sondra-martin headshott

How public art transforms everyday spaces

Sondra Martin - Distinguished Professor of Art, Fayetteville State University

In The Current Issue

Building bridges: The Military Affairs Council's commitment to Fort Bragg and Fayetteville’s collaborative future

The Military Affairs Council currently has around 170 members and is always looking to grow and recruit additional members. Photo provided by The MAC.A mainstay institution that helps connect Fort Bragg to the greater Fayetteville area continues to c