IRS Tax Relief for Taxpayers in Florida due to Hurricane Milton
The IRS has announced tax relief for individuals and businesses affected by Hurricane Milton. Combined with earlier tax relief provided for taxpayers in counties affected by Hurricane Debby and Hurricane Helene, affected taxpayers in all of Florida now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.
Returns Affected
Taxpayers in the affected areas now have until May 1, 2025, to file various individual and business tax returns. The relief applies to:
- Individual income tax returns
- Business tax returns
- Quarterly estimated tax payments
- Payroll and excise tax returns
The relief postpones various tax filing and payment deadlines for individuals and businesses that reside or have a business in the disaster area. As a result, affected individuals and businesses will have until May 1, 2025, to file returns and pay any taxes originally due during this period. For example, the May 1, 2025, deadline applies to:
- Individuals or businesses that have a 2024 return normally due during March or April 2025.
- Individuals, businesses, or tax-exempt organizations with a valid extension to file their 2023 federal returns (note: payments on these returns are not eligible for the extra time, because they were due last spring before the hurricane occurred).
- 2024 quarterly estimated income tax payments normally due on Jan. 15, 2025, and 2025 estimated tax payments normally due on April 15, 2025.
- Quarterly payroll and excise tax returns normally due on Oct. 31, 2024, Jan. 31, 2025, and April 30, 2025.
Penalty Relief for Payroll and Excise Tax Deposits
Penalties on payroll and excise tax deposits due on or after Oct. 5, 2024, and before Oct. 21, 2024, will be abated if the tax deposits are made by Oct. 21, 2024. Deposit penalty relief and other relief was previously provided to taxpayers affected by Debby and Helene. For more details, see the Florida page on IRS.gov.
Additional Tax Relief
In addition to the filing deadline extensions, the IRS is allowing for an election to recognize uninsured or unreimbursed losses to be recognized in the year incurred (2024) or in the prior year return (2023). Taxpayers in effected areas have been granted an extra six months after the disaster year return due date, ignoring extensions. For individual taxpayers, this election deadline is October 15th, 2025. Taxpayers should consult a tax professional to ensure compliance with IRS guidance.
How to Qualify
Eligible taxpayers do not need to apply for the extension or relief. The IRS will automatically identify and provide relief based on the addresses in its records. If affected taxpayers receive a penalty notice, they should contact the IRS to request abatement.