IRS: Hurricane Ian victims in Florida qualify for tax aid; Oct. 17 deadline, different dates prolonged to Feb. 15
WASHINGTON — Hurricane Ian victims all through Florida now have till Feb. 15, 2023, to file numerous federal particular person and enterprise tax returns and make tax funds, the Inside Income Service introduced immediately.
The IRS is providing aid to any space designated by the Federal Emergency Administration Company (FEMA). Which means people and households that reside or have a enterprise wherever within the state of Florida qualify for tax aid. The present listing of eligible localities is at all times obtainable on the catastrophe aid web page on IRS.gov.
The tax aid postpones numerous tax submitting and cost deadlines that occurred beginning on Sept. 23, 2022. In consequence, affected people and companies could have till Feb. 15, 2023, to file returns and pay any taxes that have been initially due throughout this era.
This implies people who had a sound extension to file their 2021 return because of run out on Oct. 17, 2022, will now have till Feb. 15, 2023, to file. The IRS famous, nevertheless, that as a result of tax funds associated to those 2021 returns have been due on April 18, 2022, these funds should not eligible for this aid.
The Feb. 15, 2023, deadline additionally applies to quarterly estimated earnings tax funds due on Jan. 17, 2023, and the quarterly payroll and excise tax returns usually due on Oct. 31, 2022, and Jan. 31, 2023. Companies with an authentic or prolonged due date even have the extra time together with, amongst others, calendar-year firms whose 2021 extensions run out on Oct. 17, 2022. Equally, tax-exempt organizations even have the extra time, together with for 2021 calendar-year returns with extensions because of run out on Nov. 15, 2022.
As well as, penalties on payroll and excise tax deposits due on or after Sept. 23, 2022, and earlier than Oct. 10, 2022, will likely be abated so long as the deposits are made by Oct. 10, 2022.
The IRS catastrophe aid web page has particulars on different returns, funds and tax-related actions qualifying for the extra time.
The IRS mechanically gives submitting and penalty aid to any taxpayer with an IRS tackle of document positioned within the catastrophe space. Subsequently, taxpayers don’t have to contact the company to get this aid. Nevertheless, if an affected taxpayer receives a late submitting or late cost penalty discover from the IRS that has an authentic or prolonged submitting, cost or deposit due date falling inside the postponement interval, the taxpayer ought to name the quantity on the discover to have the penalty abated.
As well as, the IRS will work with any taxpayer who lives exterior the catastrophe space however whose information essential to satisfy a deadline occurring through the postponement interval are positioned within the affected space. Taxpayers qualifying for aid who stay exterior the catastrophe space have to contact the IRS at 866-562-5227. This additionally contains employees helping the aid actions who’re affiliated with a acknowledged authorities or philanthropic group.
People and companies in a federally declared catastrophe space who suffered uninsured or unreimbursed disaster-related losses can select to say them on both the return for the 12 months the loss occurred (on this occasion, the 2022 return usually filed subsequent 12 months), or the return for the prior 12 months (2021). Be sure you write the FEMA declaration quantity – DR-4673-FL − on any return claiming a loss. See Publication 547 for particulars.
The tax aid is a part of a coordinated federal response to the harm attributable to Hurricane Ian and is predicated on native harm assessments by FEMA. For data on catastrophe restoration, go to disasterassistance.gov.