Hurricane Ian Relief: IRS Extends Deadline to February 15 for Florida Taxpayers

Written on October 4, 2022

Warren Averett Hurricane Ian Image

The IRS recently announced tax relief for Florida residents (as well as others) due to the devastation brought about by Hurricane Ian. The disaster declaration issued by FEMA allows the IRS to postpone certain filing and payment deadlines. This extension pushes the October 17, 2022, individual 2021 tax return extended deadline to February 15, 2023. This relief applies to residents (individuals and households) or those who have a business anywhere in the state of Florida.

Several other payment and return deadlines due in the coming months are also postponed until February 15. Please see the IRS release for more information.

In addition to the deadline extension, FEMA’s disaster declaration allows casualty losses (like property damages as a result of the storm) to be claimed for the year in which the disaster occurred or the prior year’s tax return. This delivers additional relief to individuals and business owners in the event that insurance does not cover all of the losses experienced due to the related disaster. For more information about casualty losses, you can read our article here.

Connect with an Advisor

If you have questions about how these provisions impact your business, please contact your Warren Averett advisor directly for assistance.

This article reflects our views at the time this article was written and should be used as reference only.

 

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