Severe storms and tornadoes that occurred from April 12 to April 14 caused heavy rain and flooding to areas in South Florida leaving Broward County in a state of disaster. If you were impacted by these storms we want you to know TurboTax is here for you, and we want to keep you up to date with important tax relief information that may help you in this time of need.
The Federal Emergency Management Agency (FEMA) declared the recent events as a disaster and the IRS announced that victims of these Florida storms have until August 15, 2023 to file various individual and business tax returns and make certain tax payments. Currently, tax relief is available to any area designated by FEMA. This means that individuals and households that reside or have a business in Broward county qualify for tax relief. Taxpayers in certain storm-impacted localities designated by FEMA will automatically receive the same filing and payment relief. The current list of eligible localities is available on the disaster relief page of IRS.gov.
What are the extended tax and payment deadlines in Florida?
The tax relief postpones various tax filing and payment deadlines that occurred starting on April 12, 2023 and is based on the April 27 FEMA disaster declaration. As a result, affected individuals, and households that reside or have business in Broward County have until August 15, 2023, to file returns and pay any taxes that were originally due during this period. These include:
- 2022 Individual and Business Returns: 2022 individual tax returns and payments that were due on April 18, 2023, as well as various 2022 business returns, along with payments have an extended deadline until August 15, 2023.
- 2022 IRA Contributions: Affected taxpayers will have until August 15, 2023, to make 2022 IRA contributions to make an impact on their 2022 taxes.
- Quarterly Estimated Tax Payment: Quarterly estimated tax payments normally due April 18, 2023, and June 15, 2023, have been extended until August 15, 2023.
- Quarterly Payroll and Excise Tax Returns: Quarterly payroll and excise tax returns that are normally due on May 1 and July 31, 2023, are also extended until August 15, 2023. In addition, penalties on payroll and excise tax deposits due on or after April 12 and before April 27, 2023, will be abated as long as the tax deposits were made by April 27, 2023.
What do I need to do to claim the tax extension?
The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. Taxpayers do not need to contact the IRS to get this relief. However, 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 falling within the postponement period, the taxpayer should call the number on the notice to have the penalty abated.
The current list of eligible localities is always available on the disaster relief page on IRS.gov.
Some affected taxpayers may find that they need more time to file beyond the August 15 deadline and must file their extension requests on paper because e-file options for requesting an extension are not available after April 18.
Do surrounding areas outside of Indiana qualify for an extension?
The IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227. This also includes workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization.
How can I claim a casualty and property loss on my taxes if impacted?
Individuals or businesses who suffered uninsured or unreimbursed disaster-related casualty losses can choose to claim them on either the tax return for the year the loss occurred (2023 return normally filed next year in this instance) or the loss can be deducted on the tax return for the prior year (2022, normally filed this tax season). Individuals may also deduct personal property losses that are not covered by insurance or other reimbursements.
Be sure to write the following FEMA declaration number on any return claiming a loss:
- 4709-DR
The tax relief is part of a coordinated federal response to the damage caused by the harsh storms and is based on local damage assessments by FEMA. For information on disaster recovery, visit disasterassistance.gov. If you are not a victim, but you are looking to help those in need, this is a great opportunity to donate or volunteer your time to legitimate 501(c)(3) not-for-profit charities who are providing relief efforts for storm victims.