IRS announces tax relief for victims of Milton; various deadlines postponed to May 1, 2025 in all of Florida

After a disaster declaration by FEMA, individuals and businesses in 52 counties across Florida, including Miami-Dade, Broward, and Palm Beach, are eligible for federal tax relief. This includes taxpayers impacted by previous relief measures for hurricanes Debby and Helene, who now have until May 1, 2025, to file and pay various federal taxes, such as 2024 individual and business returns originally due in March and April, and 2023 returns with valid extensions.

Key Extensions and Eligibility
The IRS allows affected taxpayers to delay certain deadlines that fall on or after October 5, 2024, through May 1, 2025. For instance:

• Taxpayers with 2024 returns due in March or April 2025.

• Taxpayers with valid extensions for their 2023 federal returns.

• 2024 quarterly estimated tax payments due January 15, 2025, and April 15, 2025.

• Quarterly payroll and excise tax returns due October 31, 2024, January 31, 2025, and April 30, 2025.

Penalties on payroll and excise tax deposits due from October 5 to October 21, 2024, will be waived if payments are made by October 21, 2024.

Additional Relief and Actions

• Affected taxpayers who receive penalty notices can contact the IRS to request abatement.

• The IRS automatically identifies eligible taxpayers in disaster areas for relief, but those outside these areas can call the IRS disaster hotline to request aid.

• Casualty loss claims for disaster-related losses can be made on either 2024 or 2023 returns, offering flexibility to taxpayers.

• Taxpayers can request free copies of previously filed tax returns if they include the FEMA declaration number (3622-EM) on Form 4506 or Form 4506-T.

Special Provisions for Disaster Relief

• Qualified disaster relief payments are not included in gross income, covering personal and household expenses or home repairs.

• Taxpayers may access retirement funds for disaster relief without incurring the usual early withdrawal penalties, with the option to spread income over three years.

For further information, affected individuals can refer to the IRS website or consult the "Disaster Assistance and Emergency Relief" page for complete details on available relief and eligibility.