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February 18, 2025
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Hurricane Helene relief?

  • February 18, 2025
  • 1 reply
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Underpayment of estimated taxes for Helene disaster affected county in NC?
    Best answer by NCPERSON1

    there is no penalty for the Jan 15th payment on the federal return, and if you live in the 39 western most counties in NC, there is no penalty for the Jan 15th payment on the state return.  

     

    The federal return will still calculate the penalty for not making the Jan 15th payment on time, but don't pay it!  Look at form 2210 to determine how much the penalty was for the 4th payment.  

     

    The state return will cause the 4th quarter to be zero. 

     

    I am in NC and purposely didn't pay the Jan 15 payment to either the State or the IRS as they are due without penalty on May 1. 

    1 reply

    NCPERSON1Answer
    February 18, 2025

    there is no penalty for the Jan 15th payment on the federal return, and if you live in the 39 western most counties in NC, there is no penalty for the Jan 15th payment on the state return.  

     

    The federal return will still calculate the penalty for not making the Jan 15th payment on time, but don't pay it!  Look at form 2210 to determine how much the penalty was for the 4th payment.  

     

    The state return will cause the 4th quarter to be zero. 

     

    I am in NC and purposely didn't pay the Jan 15 payment to either the State or the IRS as they are due without penalty on May 1.