IRS announces tax relief for those impacted by Idalia

The IRS has announced tax relief for individuals and businesses affected by Idalia in parts of Florida, including the counties of LEON, WAKULLA, MADISON and GADSDEN. Taxpayers affected by the storm now have until Feb. 15, 2024, to file their tax returns and make tax payments. This includes 2022 individual income tax returns due on Oct. 16, 2023. The IRS noted, however, that because tax payments related to these 2022 returns were due on April 18, 2023, those payments are not eligible for this relief.

The Feb. 15, 2024, deadline also applies to quarterly estimated tax payments, normally due on Sept. 15, 2023 and Jan. 16, 2024.

Businesses with an original or extended due dates that run out on Sept. 15, 2023 also qualify for the Feb. 15, 2024 deadline. Penalties on payroll and excise tax deposits due on or after Aug. 27, 2023, and before Sept. 11, 2023, will be abated as long as the tax deposits are made by Sept. 11, 2023.

Call me for all the important details at 850-386-2639.