IRS expands tax relief to Florida hurricane victims

The IRS is giving Hurricane victims in Florida until January 31, 2018 to file individual and business tax returns and make tax payments.

This includes an additional filing extension for taxpayers with valid extensions that expire next Monday, October 16, along with businesses with extensions that ran out on September 15. The IRS is offering the relief to any area designated by the FEMA, as qualifying for either individual assistance or public assistance in Florida.

The IRS is giving individuals and businesses affected by the hurricane until January 31, 2018, to file their returns and pay any taxes due during this period. The relief includes the September 15, 2017 and January 16, 2018 deadlines for making quarterly estimated tax payments. For individual tax filers, the relief also includes the 2016 income tax returns that got a tax-filing extension until October 16. The IRS points out that because tax payments related to these 2016 returns originally came due on April 18, 2017, those payments are not eligible for this relief.

Many other business tax deadlines are included in this relief, including the October 31 deadline for quarterly payroll and sales tax returns. Businesses with extensions also get some extra time, including calendar-year partnerships whose 2016 extensions ran out on September 15, along with calendar-year tax-exempt organizations whose 2016 extensions run through November 15.

Taxpayers don’t need to contact the IRS to get relief. However, if an affected taxpayer receives a late filing or late payment penalty notice, the taxpayer should contact the number on the notice to make sure the penalty is going to be abated. Furthermore, the IRS said it will work with any taxpayer who lives outside the disaster area but whose records for meeting a deadline during the postponement period are in the affected area. Feel free to contact us for more information.

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