The IRS has introduced that victims of Hurricane Ian all through Florida will now have till February 15, 2023, to file their federal particular person and enterprise tax returns and make tax payments.
IRS Extends Tax Aid and Deadlines for Florida Small Companies Affected by Hurricane Ian
The tax aid applies to people and households that reside or have a enterprise in Florida, because the state has been designated for catastrophe help by the Federal Emergency Administration Company. The brand new February deadline additionally applies to quarterly estimated revenue tax funds due on January 17, 2023, and the quarterly payroll and excise tax returns usually due on October 31, 2022, and January 31, 2023.
Florida Tax Aid Eligibility
The brand new tax aid applies to the assorted tax submitting and fee deadlines that began on September 23, with Florida-based companies now capable of postpone submitting returns and fee of due taxes till the brand new deadline subsequent 12 months.
Those that had utilized for and obtained a sound extension to file their 2021 returns may also postpone submitting fee till February 15. Nonetheless, the IRS confirmed that 2021 tax funds that have been due on April 18, 2022, aren’t eligible for this aid.
How Florida Tax Aid Works
On the IRS website, the nationwide tax assortment company defined how the aid works: “The IRS robotically offers submitting and penalty aid to any taxpayer with an IRS tackle of file positioned within the catastrophe space. Due to this fact, taxpayers don’t have to contact the company to get this aid.
“Nonetheless, if an affected taxpayer receives a late submitting or late fee penalty discover from the IRS that has an authentic or prolonged submitting, fee or deposit due date falling inside the postponement interval, the taxpayer ought to name the quantity on the discover to have the penalty abated.”
Non-Resident Taxpayer Eligibility
The IRS additionally state that they may work with any taxpayer who ‘lives outdoors the catastrophe space however whose data crucial to fulfill a deadline occurring in the course of the postponement interval are positioned within the affected space’. Such taxpayers should contact the IRS at 866-562-5227.
This text, “IRS Extends Tax Relief and Deadlines for Florida Small Businesses Affected by Hurricane Ian” was first printed on Small Business Trends