Florida Tax Relief: IRS Extends Tax Deadlines for Taxpayers Affected by Hurricanes

Individuals and businesses impacted by recent hurricanes have an extended deadline to file federal tax returns and make tax payments. Learn more

Stephanie Glanville | October 21, 2024 | Read time: 5 minute(s) | Current Events, Deadline, IRS Updates | No Comments

The IRS has announced tax relief for several Florida counties affected by Hurricanes Helene, Debby, and Milton. Individuals and businesses impacted will have an extended deadline to file federal tax returns and make tax payments until May 1, 2025. This extension applies solely to the 2024 tax year and does not include payments for 2023.

In this article, we will examine the tax relief offered by the IRS, to whom it applies, and more.

Eligible Counties for Tax Relief

The IRS has granted tax relief to all taxpayers in 51 counties in Florida affected by Hurricane Milton after the Federal Emergency Management Agency (FEMA) issued a disaster declaration.

If you’re an individual residing in or operating a business in any of the following counties, this tax relief applies to you:

Alachua, Baker, Bradford, Brevard, Broward, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Gilchrist, Glades, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lafayette, Lake, Lee, Levy, Madison, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putman, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, Suwannee, Taylor, Union, and Volusia.

Filing and Payment Relief

In conjunction with prior tax relief offered to taxpayers in counties impacted by Hurricane Debby and Hurricane Helene, all affected taxpayers throughout Florida now have until May 1, 2025, to submit various federal individual and business tax returns and complete tax payments. This includes,

Individual and business returns for 2024 that are typically due in March and April 2025
Individuals, businesses, and tax-exempt organizations with valid extensions to file 2023 tax returns.
Quarterly estimated tax payments that are normally due on January 15, 2025, and 2025 estimated tax payments that are generally due on April 15, 2025.
Quarterly payroll and excise tax returns that are commonly due on October 31, 2025, Jan. 31, 2025, and April 30, 2025. This means businesses in the affected areas who are required to file Form 941 for Q3 & Q4, 2024 and Q1, 2025 will now have an extension until May 1, 2024.

Additionally, IRS penalties on payroll and excise tax deposits due between October 5, 2024, and October 21, 2024, will be abated as long as the payments are made by October 21, 2024.

Additional Tax-Relief Information

Here are some of the additional tax-relief information for the affected taxpayers.

Taxpayers who participate in a retirement plan or individual retirement arrangement (IRA) may be eligible for additional tax relief.
Qualified disaster relief payments are excluded from gross income. This means the taxpayers can exclude the gross income received from government agencies for essential expenses.

For a complete overview of the IRS tax relief in regards to the recent hurricanes, check out the IRS notice here.

When It’s Time to File, TaxBandits is Here

Having more time to file will definitely help the taxpayers affected by Hurricane Helen, Debby, and Milton. The TaxBandits team is here to update you with the necessary information. Additionally, when it is time to file, you can choose TaxBandits and e-file your tax returns with our exclusive features, which include bulk upload, multi-e-sign, zero reporting, copy return, and more.

Stay tuned with TaxBandits for more updates!