Florida and Alaska were recently struck by severe natural disasters, causing significant damage across both states. In response, various organizations are stepping in to provide aid and support. Contributing to these efforts, the IRS has extended the tax deadline for the taxpayers in those affected areas until May 1, 2025, which might provide significant relief for taxpayers dealing with the aftermath of this disaster.
In this article, we will explore the details of this tax relief and provide key information for nonprofits in Florida and Alaska to ensure they remain compliant with their filings during this extended period.
Who Qualifies for this Tax Extension?
The IRS has extended the tax filing deadline for Florida taxpayers to May 1, 2025, for all the filings and payments due between October 5, 2024 and May 1, 2025. For Alaskan taxpayers, the deadline is also extended to May 1, 2025, for filings due between August 5, 2024, to May 1, 2025.
This IRS tax extension is applicable to individuals, businesses, and nonprofits, including,
- Individual and business returns for 2024 that are typically due in March and April 2025.
- Individuals, businesses, and tax-exempt organizations with valid extensions to file 2023 tax returns.
Note: Payments on these returns are not eligible for the extension, as they were due last spring.
- Quarterly estimated tax payments that are normally due on January 15, 2025, and 2025 estimated tax payments that are generally due on April 15, 2025.
- Quarterly payroll and excise tax returns that are commonly due on October 31, 2025, Jan. 31, 2025, and April 30, 2025.
Additionally, IRS penalties on payroll and excise tax deposits due between October 5, 2024, and October 21, 2024, will be abated as long as the payments are made by October 21, 2024.
Which Areas and Counties Are Eligible for This Tax Relief?
After the Federal Emergency Management Agency (FEMA) issued a disaster declaration, the IRS granted tax relief to all taxpayers in the Juneau area of Alaska and for the following Florida counties:
Alachua, Baker, Bradford, Brevard, Broward, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Gilchrist, Glades, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lafayette, Lake, Lee, Levy, Madison, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, Suwannee, Taylor, Union, Volusia.
IRS Tax Relief – What Nonprofits Should Know
Nonprofits in Florida and Alaska impacted by the natural disaster can also benefit from this extension. Tax-exempt organizations with filing deadlines between October 2024 and April 2025 will have an extension until May 1, 2025, to submit their 2023 tax returns.
This extension applies to all nonprofits required to file any variant of Form 990, including those that previously obtained a six-month extension for filing those forms through Form 8868.
Upcoming Tax Deadlines for States with Approved Tax Relief
The IRS has already provided various extensions for taxpayers in states affected by natural disasters. Here’s a summary of the upcoming deadlines for those states:
- November 1, 2024 – Taxpayers in parts of Arkansas, Iowa, Kentucky, Mississippi, New Mexico, Oklahoma, Texas, and West Virginia have until this date to file their 2023 returns.
- February 3, 2025 – Taxpayers across the entire states of Louisiana and Vermont, as well as all of Puerto Rico and the Virgin Islands, along with parts of Arizona, Connecticut, Illinois, Kentucky, Minnesota, Missouri, New York, Pennsylvania, South Dakota, Texas, and Washington state, have until this date to file their 2023 returns.
| Tax Relief for Washington State In response to the recent wildfires in Washington, the IRS has extended the filing deadlines for various federal and business tax returns. For the tax returns originally due on or after June 22, 2024, and before February 3, 2025, the deadline has been extended to February 3, 2025. |
- May 1, 2025 – Taxpayers in all of Alabama, Florida, Georgia, North Carolina, South Carolina, and parts of Tennessee, Virginia, and Alaska will have until this date to file their 2023 returns. For these taxpayers, May 1 will also serve as the deadline for filing their 2024 returns and paying any taxes due.
Meet Your Organization’s Filing Deadline With Tax990
Extended filing deadlines offer valuable relief to taxpayers recovering from the hurricane, but staying on track as due dates approach is crucial. Tax990, an IRS-authorized e-file provider, simplifies nonprofit tax filings and helps you stay updated on IRS updates and upcoming deadlines.
Stay tuned for further updates!
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