Our thoughts and prayers are with our clients, friends, employees, and all members of our communities impacted by Hurricane Ida. Our Louisiana offices in Covington, Baton Rouge, and Metairie are now open. Our Houma office sustained damage and will be closed for some time for repairs, although many of our team members are already working remotely serving clients at this time. In addition, please know our Houston office is open and LaPorte professionals are available to handle any of your questions or needs.
In our 75 years of serving clients, we have weathered many natural disasters and the current pandemic—and through it all we have only grown stronger and better as a firm. With all the advantages of our amazing and dedicated team members and the wonders of technology, we stand ready to meet our clients needs and support our community in this difficult time.
LaPorte professionals have extensive experience supporting clients in disaster recovery and are ready to help business leaders in the following areas:
- Application assistance for federal relief programs
- Business continuity planning
- Business interruption and business income loss calculations
- Disaster accounting and record-keeping
- Economic Damages
- Outsourced accounting assistance
- Real estate valuations
To find out how LaPorte can help you with current challenges post Hurricane Ida, please contact us or reach out to your LaPorte professional.
The IRS is offering a variety of different types of relief to people and businesses affected by Hurricane Ida. This relief is available to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual or public assistance. This includes all of Louisiana and certain areas of neighboring states. Victims of the storm now have until January 3, 2022 to file returns and make tax payments.
Individual and Business Relief
Relief comes in the form of postponing filing and payment deadlines for individuals and businesses, as well as quarterly estimated income tax payments. For detailed information on filing and payment postponements, visit IRS 2021-175.
The disaster declaration from FEMA also opens up certain employer-sponsored charities to provide disaster relief programs for affected employees. Employer-sponsored private foundations and donor-advised funds may provide assistance to the sponsoring employer’s employees and their family members by enacting certain safeguards. For full details, visit IRS Publication 3833 (Rev. 12-2014).
Louisiana Department of Revenue Updates
The Louisiana Department of Revenue has issued a bulletin on automatic extensions being granted for eligible individuals and businesses impacted by Hurricane Ida. Bulletin No. 21-024 explains which taxpayers are eligible for automatic extensions by tax type, based on upcoming deadlines.
For information about how these relief options may affect your personal situation, please contact a LaPorte professional.