The Internal Revenue Service announced on Thursday, September 29 that the deadline for filing individual and business tax forms and making tax payments for Hurricane Ian victims has been extended to February 15, 2023. Any taxpayer within the recent disaster location issued by the Federal Emergency Management Agency (FEMA) will receive tax relief.
Florida Residents Qualify For Disaster Tax Relief
Individuals and households affected by Hurricane Ian that reside or have a business anywhere in the state of Florida that FEMA issued to qualify for tax relief. Florida homeowners and renters in Charlotte, Collier, DeSoto, Hardee, Hillsborough, Lee, Manatee, Pinellas, and Sarasota counties who were affected by Hurricane Ian may apply for FEMA disaster assistance.
How Do I Apply For FEMA Disaster Tax Relief?
When Florida taxpayers apply for FEMA disaster assistance whether they choose to do it by calling the designated phone number of (800) 621-3362 from 7 AM-11 PM Eastern Time, applying online, or by the FEMA Mobile App, they need to have the following information ready:
A current phone number where you can be contacted
Your address at the time of the disaster and the address where you are now staying
Your Social Security number
A general list of damage and losses
Banking information if you choose direct deposit
If insured, the policy number or the agent and/or the company name
It’s suggested to take photos of the damages before you begin to clean up, gather, and salvage your belongings to prevent even further damage. Keep receipts from all purchases related to the repair as documentation.
I’m Not In The Covered Disaster Area That FEMA Issued
In cases where the taxpayer is not within the vicinity of the disaster area in Florida, the IRS disaster hotline (866) 562-5227 would be the best number to reach to request this Hurricane Ian Disaster Relief.
Usually, if you receive a late filing or late payment penalty notice from the IRS that has an original or extended filing, any payment or deposit that’s due within the postponement period, the taxpayer should be able to call the number provided on the notice to the IRS to abate the penalty.
Deadlines Have Been Extended For Florida Taxpayers
There are certain deadlines that fall on or after September 23, 2022, and before February 15, 2023, that Florida taxpayers need to meet, but the deadlines are now postponed through February 15, 2023. This means, individuals who had a valid extension to file their 2021 return due on or before October 17, 2022, will have until February 15, 2023, to file. However, the IRS pointed out that since the tax payments for the 2021 returns were due on April 18, 2022, those payments are not subject to this disaster tax relief.
Quarterly Estimated Tax Payments
The February 15, 2023 deadline applies to the quarterly estimated tax payments that were normally due on January 17, 2023.
Quarterly Payroll and Excise Taxes
February 15, 2023, deadline also applies to the quarterly payroll and excise tax returns normally due on October 31, 2022, and January 31, 2023. However, businesses with an extended due date or with an original due date have until February 15, 2023, to file and pay. If Florida taxpayers make their tax deposits on or after September 23, 2022, before October 10, 2022, the penalties will be abated.
Florida residents have extra time to file returns and pay tax payments but if they don’t take advantage of the extended deadline given by the IRS, penalties, and interests will accrue normally as if you’ve missed a normal deadline. No taxpayer in their right mind wants to owe money to the IRS especially if it becomes a struggle to pay off. It is very important for taxpayers to remain tax compliant because it will save you interest and penalties on the current year and prevent you from a continuous circle of always owing tax.
The IRS Fresh Start Program consists of 4 main programs that are accessible to taxpayers who owe much more than they can reasonably afford to pay. The four major programs are as follows: Currently Not Collectible (CNC) Offer In Compromise (OIC), Installment Agreement (IA), and Penalty Abatement (PA). These relief programs allow qualified taxpayers the option to reduce or even eliminate their tax liabilities. These tax experts will help you qualify for the program and help you figure out which options will give you the most suitable outcome.
Resolve Your Tax Bills
If you’ve found yourself in a nasty mess with the IRS, take a deep breath. For taxpayers who may have difficulty paying off an excessive amount of tax debt, there’s a new and improved relief program that consolidates many major relief programs into a one-size-fits-all assistance program. Any issues regarding back taxes, unfiled years, or any other tax-related problems may be solved through one program; the IRS Fresh Start Program!
How Simple Is Qualifying?
Considering that the Fresh Start Program is a federal program, you would think meeting the qualifications may be very difficult, but really, it’s a lot simpler and quicker than you think. Take the following steps in order to find out if you are eligible in as little as 3 minutes.
- Fill out some basic information about yourself and your back taxes here.
- Have a representative reach out to you to discuss your eligibility.
- Go through the enrollment process and finally reduce or eliminate your tax liabilities.