September is National Preparedness Month. It also marks the peak of hurricane season for states such as Florida which often experience weather patterns, often with devastating effects. Florida is not the only state impacted by unpredictable weather, of course. Across the country, there are significant weather events that may trigger a national response. This is why it is so important to review business continuity plans for your business in case of hurricanes, heavy rains, and other natural disasters.

The IRS regularly releases updates about specific tax filing extensions and relief for individuals and businesses (including freelance businesses) impacted by severe weather events. 

For example, relief is now available to Hurricane Debby victims in all of South Carolina, most of Florida and North Carolina, part of Georgia; with various deadlines postponed to Feb. 3, 2025. The same holds true for New York State residents. This action was taken by the IRS for the severe storms and flooding that began on August 18, 2024. 

Tax return extensions such as this one can be found at IRS.gov. These types of disaster relief tax extensions may also apply to any payments regularly scheduled during this time period, so your quarterly fax filings. This relief is available, without contacting the IRS, to any taxpayer with an IRS address of record located in the disaster area.

In addition to providing relief through tax extensions, the IRS has a list of resources for individuals and businesses facing a natural disaster, including these tips to practice preparedness in your freelance business:

1. Make hard copies and electronic copies of important files such as your tax records, social security cards, birth certificates, deeds, titles, etc. 
2. Keep your tax records for at least seven years, and if you have delinquent taxes you have three years from any extension dates to file them also.  
3. f you are in an area that has been affected by a natural disaster this year, you may also qualify for tax return extensions, so be sure to check with a tax professional 
4. Create an inventory of all your valuables and records to determine any losses should a disaster occur.
5. To implement a comprehensive Emergency Preparedness Plan, you can check out ready.gov. For assistance and emergency relief resources.

The best time to prepare for disasters is before they happen, especially in your freelance business. Use these tips to help you get prepared for any potential threats to your business. If you are unsure whether you may qualify for an automatic tax return extension, be sure to ask a qualified tax professional.