Florida had a devastating storm season this year as several ripped through the state: Debby, Helene, and Milton chief among them.
These hurricanes unleashed over 40 tornadoes, wreaking havoc through the state and taking a personal toll with lost lives and massive flooding leading to damages estimated at around $50 billion.
As a result, the IRS has extended the tax deadline for all of Florida to May 1, 2025. As Kiplinger has reported, that new deadline also applies to impacted residents in several other hard-hit states.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Read on for what to know.
IRS extends tax deadline in FL due to Milton and other storms
The Florida tax deadline extension covers tax filing and payment deadlines normally due between Oct. 5, 2024, and May 1, 2025.
All taxpayers in Florida have until May 1, 2025, to fulfill their tax obligations, including filing federal tax returns and making payments initially due during this period.
- Taxpayers with Floridian addresses on file with the IRS will automatically receive filing and penalty relief without contacting the agency.
- However, those who moved to the disaster area after filing their return may receive penalty notices and should contact the IRS to have penalties waived.
- Those living outside the designated disaster area but requiring relief because records are in the affected region should contact the IRS disaster hotline at 866-562-5227.
Florida tax deadlines
The May 1, 2025 filing deadline impacts several tax obligations, including partnership and corporation returns, and tax-exempt organization returns.
Additionally, the May 1, 2025 tax extension applies (but may not be limited) to the following:
- If you live in an affected area, your 2024 return, normally due during March or April 2025, has been extended.
- Any individual, business, or tax-exempt organization that already had an extension on their 2023 federal return. (Note: payments are not extended to the new due date.)
- 2024 quarterly estimated tax payments that are normally due on Jan. 15, 2025, and 2025 estimated payments normally due on April 15, 2025.
- Quarterly payroll and excise tax returns that are typically due on Oct. 31, 2024, and Jan. 31 and April 30, 2025.
The IRS disaster relief page has more information on eligible returns, payments, and tax-related actions. See also Kiplinger’s report: States with IRS Tax Deadline Extensions.
How to claim disaster casualty loss in Florida
Affected taxpayers may be able to make an itemized deduction on their federal returns. Hurricane Milton victims can claim the disaster casualty loss on either their 2023 income tax return or their 2024 income tax return.
You can deduct personal property losses not covered by insurance or other reimbursement. This may include amounts for reasonable and necessary expenses related to the casualty loss, like your home’s repair.
For more information, see Kiplinger’s Report on How the IRS Can Help If You’re Affected by Federally Declared Disasters.
Florida property tax relief and corporate income filing extensions
Two years ago Florida Gov. Ron DeSantis signed a tax rebate into law for eligible individuals affected by storms. The legislation mandates that individuals who lost their residences for at least 30 days may be eligible to receive a prorated property tax refund.
To apply, you must submit an Application for Catastrophic Event Refund with supporting documents (such as insurance information and utility bills) to your county property appraiser before March 1, 2025.
Additionally, the Florida Department of Revenue announced statewide relief for corporate income and franchise tax return due dates. The filing period follows the IRS deadline of May 1, 2025. For more information, see the state’s corporate income tax page.
Related Content
-
Tax Credit vs. Tax Deduction: What’s the Difference?Tax Breaks Your guide to tax deductions and credits, how the IRS treats them differently, and how they impact your tax bill.
-
Premium Tax Credit: Are You Eligible For This Health Insurance Tax Break?Tax Credits The tax credit can help qualifying individuals pay for coverage from the Affordable Care Act’s health insurance marketplace.
-
FSA Contribution Limits Are Higher for 2025FSA A flexible spending account allows you to build tax-free savings for certain medical expenses.
-
IRS: Here’s How to Recover Your Tax Records After a Natural DisasterTax Records Your tax documents can help you get federal relief faster, the IRS says.
-
Voters Approve New Veteran Property Tax ReliefTax Relief Thanks to the election, some Veterans will soon see expanded property tax exemptions.
-
Nevada Approves Diaper Tax Relief Amid Childcare CrisisTax Relief Nevada voters have expanded sales tax relief to diapers. But are prices still too high?
-
Earned Income Tax Credit (EITC) 2024: How Much Will You Get?Tax Credits The refundable amount for workers with or without children is slightly higher this year. Here’s what you need to know.
-
IRS Expands Tax Breaks for Breast Cancer Screenings, ContraceptivesHealthcare Now you can get a tax deduction or reimbursement for certain medical expenses, like over-the-counter birth control and condoms.
