The Internal Revenue Service (IRS) has issued a major update for people living in Florida and some other states. Because of recent natural disasters, the IRS has extended the federal tax deadline for many taxpayers from April 15 to June 17, 2024. This change will help people who are trying to recover from storms, floods, and other serious weather events.
This means that if you live in a part of Florida or any of the other listed states and your area has been declared a disaster zone by FEMA (Federal Emergency Management Agency), you now have more time to file your taxes.
This extension is not just for Florida. Other states included are Connecticut, Rhode Island, Maine, New York, Michigan, Tennessee, West Virginia, and Washington. However, not all parts of each state are included. The IRS is only offering this tax relief to specific counties that were affected and officially declared as disaster areas by FEMA.
If you’re living in or own a business in one of those disaster-hit counties, you don’t need to do anything extra to get the extension. The IRS will automatically apply the new deadline to anyone living in a qualifying area.
So What Does This Extension Mean for You?
If your area qualifies, you now have until June 17, 2024, to:
- File your 2023 federal income tax return
- Pay any taxes you owe for 2023
- Make IRA or HSA contributions for the 2023 tax year
- Pay your first estimated quarterly taxes for the 2024 tax year
- Submit business tax returns and other forms due during this time
Basically, any deadline that was originally between April 15 and June 17 is now pushed back to June 17. This is meant to give people some breathing room as they recover from major damage caused by storms and floods.
In recent months, some areas in Florida, for example, have been hit by very heavy rain and flooding, damaging homes, roads, and businesses. The same kind of weather problems have also occurred in other states. That’s why the IRS decided to step in and give people more time.
People who are outside the affected areas but have tax documents stored in one of the disaster zones can also qualify for this relief. For example, if your accountant or office is in one of the affected counties and you cannot access your records, you might still be eligible.
Also, if you’re helping with disaster recovery work, and you’re working with a recognized group or government agency in the affected area, you could qualify for the extended deadline.
What if You Still Need More Time to File, Even After the June 17 Extension?
You can still file for a regular extension using Form 4868, which will give you until October 15, 2024, to file your return. But keep in mind, this only gives you extra time to file, not to pay. You must still pay any taxes you owe by June 17, or else interest and penalties will apply.
The IRS is also offering penalty relief for those who may not be able to file or pay on time due to the disaster. If you get a notice about a late payment or late filing, but you were affected by the storms, you can call the IRS and explain your situation. They may be able to remove the penalty.
It’s important to know that interest will still apply to any taxes you don’t pay by the June 17 deadline. So if you can pay your taxes, it’s better to do it sooner to avoid extra charges.
The IRS recommends that people who expect a refund file their taxes as soon as possible. There’s no need to wait until the last minute. Getting your refund early can help, especially if you’ve had to spend money fixing storm damage or replacing things that were lost.
If you’re not sure whether your area qualifies for the extended deadline, you can check the IRS website or the FEMA disaster declaration list. These websites have the most up-to-date information about which counties and cities are included.
So far, the extension applies to selected counties in:
- Florida
- Rhode Island
- Connecticut
- Maine
- New York
- Michigan
- Tennessee
- West Virginia
- Washington
More areas might be added later if there are more FEMA disaster declarations in the coming weeks.
This move by the IRS is a relief for many families and businesses who are trying to get back on their feet. After going through tough weather conditions and dealing with damage to property and personal belongings, having a little more time to handle taxes can make a big difference.
If your home, business, or community has been affected, make sure to take advantage of this extension. It will give you more time to focus on what matters most—getting back to normal life.
Disclaimer: This article has been meticulously fact-checked by our team to ensure accuracy and uphold transparency. We strive to deliver trustworthy and dependable content to our readers.
Jon King is an experienced journalist with 3 years of experience in the field. With a strong background in investigative reporting, Jon is known for his in-depth coverage of crime news, finance news, local news, and USA news. Currently working with Mikeandjonpodcast, Jon brings his sharp investigative skills, where he provides timely updates and analysis on a wide range of topics. His commitment to delivering accurate and impactful news has earned him a reputation for providing insightful and comprehensive stories that resonate with his audience.
