The US Internal Revenue Service (IRS), in a release—FL-2024-06 on 25 June 2024, announced tax relief for individuals and businesses in Florida affected by severe storms, straight-line winds, tornadoes, and flooding that began on 10 May, 2024.
The affected taxpayers now have until 1 November, 2024, to file various federal individual and business tax returns and make tax payments.
Following a disaster declaration by the Federal Emergency Management Agency (FEMA), individuals and households that reside or have a business in Baker, Gadsden, Hamilton, Lafayette, Leon, Liberty, Madison, Suwannee, Taylor, and Wakulla counties qualify for tax relief.
Certain deadlines falling on or after 10 May, 2024, and before 1 November, 2024, are postponed to 1 November, 2024.
As a result, affected individuals and businesses will have until 1 November, 2024, to file returns and pay any taxes that were originally due during this period.
The 1 November, 2024, filing deadline applies to:
- Individuals who had a valid extension to file their 2023 return due to run out on 15 October, 2024 (but because tax payments related to these 2023 returns were due on April 15, 2024, those payments are not eligible for relief);
- Businesses with an original or extended due date including, among others, calendar-year partnerships and S corporations whose 2023 extensions run out on 16 September, 2024, and calendar-year corporations whose 2023 extensions run out on 15 October, 2024.
The November 1 deadline also applies to:
- Quarterly estimated tax payments due on 17 June, 2024, and 16 September, 2024;
- Quarterly payroll and excise tax returns normally due on 31 July, 2024, and 31 October, 2024;
- Calendar-year tax-exempt organization returns normally due on 15 May, 2024.
In addition, penalties on payroll and excise tax deposits due on or after 10 May, 2024, and before 28 May, 2024, will be abated as long as the tax deposits were made by 28 May, 2024.
