The Treasury Department and the Internal Revenue Service have provided disaster relief for areas impacted by Hurricane Idalia. The relief covers 48 counties in Florida, including Southwest Florida, 46 counties in Georgia, the entire state of South Carolina. Under this relief, the tax deadline for has been extended until February 15, 2024 for various individual and business tax filings and tax payments in the covered areas.
For taxpayers still struggling to determine the full extent of their Hurricane Ian losses, this reprieve from the October 16th deadline may provide the necessary time to make calculations and gather relevant information. In the meanwhile, we continue to work through 2022 tax returns and encourage you to bring in any remaining 2022 documents including Hurricane Ian information as soon as possible.
Florida Taxpayers are Still Waiting on Congress to Act – Is the wait almost over?
We previously reported that back in March of 2023 Florida legislators introduced a couple of bills to both the house and the senate to “fix” the status of Hurricane Ian so that losses can be claimed as “qualified disaster losses” which are eligible for special tax treatment. Just this week, Florida Congressman Steube announced a renewed effort move the needle on this legislation before the original extended individual tax deadline of October 16, 2023 (now extended to February 15, 2024). With House leadership in flux, it is likely that the House will be out of session into next week and the timing may be further delayed.
We at HSC will continue to keep you informed as we navigate the final months of yet another extended tax season here in Southwest Florida.