Tax Alert: IRS Includes All Florida Counties in Tax Relief Assistance

Written on September 19, 2017

IRS Includes All Florida Counties in Tax Relief Assistance

Effective Sept. 15, 2017, the IRS has expanded its tax relief assistance to all 67 counties of Florida. In an effort to assist individuals and businesses affected by Hurricane Irma, the IRS is providing special tax relief to taxpayers in any area designated by FEMA as qualifying for either individual assistance or public assistance in the State of Florida.

This declaration of assistance permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. The tax relief postpones various tax filing and payment deadlines that occurred starting on Sept. 4, 2017 in Florida. As a result, affected individuals and businesses will have until Jan. 31, 2018, to file returns and pay any taxes that were originally due during this period. This includes:

  • Taxpayers who had a valid extension to file their 2016 returns that were due to run out on Oct. 16, 2017.
  • Quarterly estimated income tax payments originally due on Sept. 15, 2017 and Jan. 16, 2018, as well as the quarterly payroll and excise tax returns normally due on Oct. 31, 2017.
  • Tax-exempt organizations that operate on a calendar-year basis and had an automatic extension due to run out on Nov. 15, 2017.
  • Penalties on payroll and excise tax deposits due on or after Sept. 4, 2017, and before Sept. 19, 2017, will be abated as long as the deposits are made by Sept. 19, 2017.

Casualty losses can also be claimed your federal income tax return for either the year in which the event occurred, or the prior year. Personal property losses that are not covered by insurance or other reimbursements may also qualify for tax deductions. To claim a disaster loss on your 2016 return, remember to use the Disaster Designation, “Florida, Hurricane Irma,” at the top of the form to expedite the refund.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. However, affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.

If you have any questions on how this could affect you or your business, please contact Warren Averett. For the most current details and exclusions, please click here for the official IRS website for Hurricane Irma tax relief.

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