IRS provides tax relief for taxpayers in Florida affected by Hurricane Milton

The IRS today announced tax relief for individuals and businesses in Florida affected by Hurricane Milton. The affected taxpayers now have until May 1, 2025, to file various individual and business tax returns and make tax payments.

According to today’s IRS release—IR-2024-264 (October 11, 2024)—following a disaster declaration by the Federal Emergency Management Agency (FEMA), individuals and businesses in six counties that previously did not qualify for relief under either Hurricane Debby or Hurricane Helene (i.e., Broward, Indian River, Martin, Miami-Dade, Palm Beach and St. Lucie counties) will receive disaster tax relief beginning October 5, 2024, and concluding on May 1, 2025, and individuals and businesses in 20 counties previously receiving relief under Hurricane Debby, but not Hurricane Helene (i.e., Baker, Brevard, Clay, DeSoto, Duval, Flagler, Glades, Hardee, Hendry, Highlands, Lake, Nassau, Okeechobee, Orange, Osceola, Polk, Putnam, Seminole, St. Johns, and Volusia counties) will receive disaster tax relief under Hurricane Milton, from August 1, 2024, until May 1, 2025.  

As a result, affected taxpayers in Florida will now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments. The May 1, 2025, deadline will now apply to: 

• Any individual or business that has a 2024 return normally due during March or April 2025.
• Any individual, C corporation, or tax-exempt organization that has a valid extension to file their calendar-year 2023 federal return. The IRS noted, however, that payments on these returns are not eligible for the extra time because they were due last spring before the hurricane occurred.
• 2024 quarterly estimated tax payments normally due on January 15, 2025, and 2025 estimated tax payments normally due on April 15, 2025.
• Quarterly payroll and excise tax returns normally due on October 31, 2024, January 31, 2025, and April 30, 2025. 

In addition, for localities affected by Hurricane Milton, penalties for failing to make payroll and excise tax deposits due on or after October 5, 2024, and before October 21, 2024, will be abated, as long as the deposits are made by October 21, 2024. Localities eligible for this relief are: 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 counties. 

The IRS will automatically identify taxpayers located in the covered disaster area and apply the filing and payment relief. However, affected taxpayers who reside or have a business outside the covered disaster area must call the IRS disaster hotline to request this tax relief. Moreover, if any affected taxpayer receives a late filing or payment penalty notice from the IRS that falls within the postponement period, they need to contact the IRS at the number provided on the notice to have the penalty abated.