The IRS is reminding victims of Hurricane Ian have until February 15, 2023, to file various individual and business tax returns and make tax payments. Individuals and households affected by Hurricane Ian that reside or have a business anywhere in the state of Florida qualify for tax relief. (The IRS automatically identifies taxpayers located in the covered disaster area and has automatically applied filing and payment relief.)
The disaster-area declaration from the US government permitted the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For example, certain deadlines that fell on or after September 23, 2022, and before February 15, 2023, have been postponed through February 15, 2023.
This means individuals who had a valid extension to file their 2021 return due to run out on October 17, 2022, will now have until February 15, 2023, to file.
The February 15, 2023, deadline applies to the quarterly estimated tax payments, (which would have normally been due on January 17, 2022) and to the quarterly payroll and excise tax returns that would normally have been due on October 31, 2022, and January 31, 2023.
If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS withdraw the penalty.
- Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either the year in which the event occurred, or the prior year.
- Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684, Casualties and Thefts and its instructions.
- Affected taxpayers claiming the disaster loss on their return should put the Disaster Designation, “FL Hurricane Ian” in bold letters at the top of the form. Be sure to include the FEMA disaster declaration number, DR-4673-FL, on any return.
- Affected taxpayers who are contacted by the IRS on a collection or examination matter should explain how the disaster impacts them so that the IRS can provide appropriate consideration to their case.
For more information about how Hurricane Ian impacts your taxes, call our office today to speak with an expert.