Florida Storm Victims Eligible For Tax Relief

Last month, residents of Broward County were devastated by a series of tornadoes and storms, which in turn, resulted in severe flooding. These storms left many residents unable to return to their homes and struggling with their day-to-day needs. In response, the IRS has offered qualifying Florida storm victims extra time to file federal individual and business tax returns and to make tax payments. Eligible taxpayers now have until August 15th of this year to file and pay their taxes.

Florida Storm-Related Tax Relief Measures 

As a result of the recent relief measures, victims of the April storms in Florida now have until August 15th to file their taxes or meet any payment deadlines that were originally due starting on April 12th. As a result, taxpayers now have until this date to:

• File any 2022 individual and business tax returns that were originally due on April 18th;
• Pay any taxes that were due on those returns;
• Make 2022 contributions to their IRAs and health savings accounts;
• Submit quarterly estimated tax payments due on April 18th and June 15th; and
• File quarterly payroll and excise tax returns due on May 1st and July 31st.

Taxpayers who qualify for relief will be given extra time to file and pay even if they didn’t request an extension. If, however, affected taxpayers require more time to file, beyond the extended deadline, then they must request an extension by filing Form 4868 on paper. Those who file this form and who qualify for relief will then have until October 16th to file their returns, although tax payments will still be due by mid-August.

Who is Eligible for Storm-Related Tax Relief? 

Tax relief has been offered to areas designated as disaster zones by the Federal Emergency Management Agency (FEMA) because of tornadoes, severe storms, and flooding that took place between April 12th and April 14th. Currently, this means that residents who live or own a business in Broward County are eligible for storm-related tax relief. Other areas, however, will also qualify for the same relief if they are added to the list of eligible localities. All filing and penalty relief is offered to qualifying storm victims automatically, as long as they have an IRS address of record in a disaster area. If, however, a person receives a late filing or payment penalty notice, then that taxpayer can reach out to the IRS to have that mistake remedied and the penalty abated. The IRS is also willing to work with taxpayers who live outside of the disaster area, but whose tax records are located in an affected locality.

Helping Florida Storm Victims 

As longtime residents of Florida, we understand the toll that the recent storms have taken on taxpayers across the state. For help determining whether you qualify for storm-related tax relief, please call experienced CPA, former FBI Special Agent, and skilled Florida tax attorney Ronald Cutler, P.A. You can set up a free, one-on-one consultation with our legal team by calling 386-490-9949 today.

Sources: 

irs.gov/newsroom/irs-florida-storm-victims-qualify-for-tax-relief-april-18-deadline-other-dates-extended-to-aug-15

irs.gov/newsroom/tax-relief-in-disaster-situations