The IRS has announced significant tax relief for individuals and businesses affected by Hurricanes Milton, Helene, and Debby. As part of this disaster relief effort, all affected taxpayers in Florida now have until May 1, 2025, to file various federal tax returns and make payments, including quarterly estimated taxes and business returns normally due in early 2025.
- Filing Extensions: Taxpayers with returns originally due between October 5, 2024, and May 1, 2025 (such as 2023 individual and corporate returns with valid extensions) now have until May 1, 2025, to file their returns. The extension applies to quarterly payroll and excise tax filings normally due on October 31, 2024, January 31, 2025, and April 30, 2025.
- Penalty Relief for Tax Deposits: Payroll and excise tax deposits due from October 5 to October 21, 2024, will be exempt from penalties if made by October 21, 2024.
- Eligible Areas: Hurricane Milton extended tax relief to six counties—Broward, Indian River, Martin, Miami-Dade, Palm Beach, and St. Lucie—that were previously excluded from the relief offered by Hurricanes Debby and Helene. The combined impact of all three hurricanes means all of Florida is now eligible for these tax relief measures.
- Casualty Loss Claims: Taxpayers with uninsured disaster-related losses can opt to report these losses on either their 2023 or 2024 tax returns. Claims must include FEMA declaration number 3622-EM to ensure proper processing.
This tax relief, part of a coordinated federal disaster response, is meant to alleviate the financial burden for residents and businesses recovering from the storm damage. The IRS will automatically apply this relief for taxpayers with addresses in affected areas. However, those residing outside the disaster zone who rely on records from impacted areas can request relief by contacting the IRS directly.
