Hurricane Idalia-The Internal Revenue Service (IRS) has announced tax relief to those individuals and businesses affected by the hurricane

IMPORTANT NOTICE ON FILING RELIEF AND DEADLINE EXTENSIONS

 

The Internal Revenue Service (IRS) has announced tax relief to those individuals and businesses affected by the hurricane. Taxpayers now have until February 15, 2024 to file and pay various federal individual and business tax returns, including estimated tax payments.

 

The tax relief postpones those deadlines that occur between August 27, 2023 through February 15, 2024. Individuals that reside or have a business in one of the Federal Emergency Management Agency (FEMA) designated counties qualify for the relief. The IRS identifies those taxpayers qualified by the address on record. Please visit www.fema.gov for a complete list of counties in the qualified disaster area. The IRS also extended relief to those who live outside the disaster relief area, but have records necessary to meet a deadline located in the area. The tax relief is for Federal and Florida purposes only and any other states may not grant the same relief.

 

The following is a list of filings and payments now due February 15, 2024:

 

  • Individuals with a valid 2022 extension (relief does not apply to any tax due with the return filing as these payments were due on or before April 18, 2023).
  • Quarterly estimated income tax payments due September 15, 2023 and January 16, 2024.
  • Quarterly payroll tax returns due October 31, 2023 and January 31, 2024.
  • Calendar year partnerships and s-corporations due September 15, 2023.
  • Calendar year corporations due October 16, 2023.
  • Calendar year tax exempt organizations due November 15, 2023.
  • Fiscal year entity returns with an original or extended due date between August 27, 2023 and before February 15, 2024.

 

The Florida Department of Revenue has announced it will follow the tax relief granted by the IRS for affected taxpayers. Taxpayers who file Florida Corporate Income Tax Returns with original due dates between August 27, 2023 and before March 1, 2024 will now have a due date of March 1, 2024. 

Category: News