IRS Extends Florida Tax Deadlines to May 1: Here’s What You Need to Do

In the wake of Hurricane Milton, the IRS has announced extended deadlines for tax filings and payments for individuals, businesses, and non-profits across all of Florida. These extensions are part of the relief measures designed to help those affected by the disaster.

The extended May 1 deadline is your chance to avoid penalties

Here's what you need to know.

Key Points for Everyone:

• The May 1, 2025 extension applies to taxpayers who filed a valid extension for their 2023 federal returns. While filing deadlines are extended, payments originally due (such as for 2023 tax returns) are not eligible for extra time.
• This relief automatically applies to taxpayers with a valid IRS address in the affected area.

For Individuals:

• 2024 Tax Returns: If your 2024 tax return is due in March or April 2025, you now have until May 1, 2025, to file.
• Quarterly Estimated Tax Payments: The deadlines for estimated tax payments due on January 15, 2025, and April 15, 2025, are extended to May 1.

For Businesses:

• 2024 Business Returns: Businesses with returns due in March or April 2025 now have until May 1 to file.
• Payroll and Excise Tax Relief: Penalties for failing to make payroll and excise tax deposits due between October 5, 2024, and October 21, 2024, will be waived if the deposits are made by October 21, 2024.

For Non-Profits:

• Form 990 Extension: Non-profits that filed a valid extension for their 2023 Form 990 or those due to file in early 2025 also now have until May 1 to submit their filings.
• Unrelated Business Income (UBI): Quarterly estimated payments for UBI taxes that were due in early 2025 are now extended to May 1, 2025.

Additional Tax Relief:

• Claiming Disaster-Related Losses: If your business or home sustained uninsured or unreimbursed losses, you may choose to claim those losses on either your 2023 return (filed in 2024) or your 2024 return. Taxpayers have up to six months after the regular filing date of the disaster year’s tax return to make this election. Be sure to reference FEMA Declaration Number 3622-EM on any claim.

• Exclusion from Gross Income: Qualified disaster relief payments for necessary expenses—such as living, repair, or rehabilitation costs—can be excluded from gross income, which may provide significant financial relief.
• Retirement Plan Withdrawals: Affected individuals may qualify for special disaster-related distributions from their retirement accounts, allowing them to avoid the 10% early withdrawal penalty and spread the income over three years Hardship withdrawals may also be available.

Next Steps:

If you qualify for these extended deadlines, there's no need to take additional action—the IRS will automatically apply the relief to those with an IRS address of record in Florida. However, if your address is outside the disaster area but you have records in the affected zone, contact the IRS directly to confirm your eligibility.