Tax Update: Hurricane Relief May 1, 2025 Extension

Written by Gerry O'Connell, Enrolled Agent, Tax Planning Partner | Oct 15, 2024 3:55:25 PM

Important Tax Update for the Southeast

The deadline for filing 2023 and 2024 taxes, including tax payments, estimated payments, and return submissions, has been extended to May 1, 2025. Additionally, funds received from FEMA or other government entities are typically not included in gross income.

Hurricane Helene and Milton: States Affected

Due to the hazardous hurricanes that have hit the Southeast Regions: Alabama, Georgia, North Carolina, South Carolina, and Florida, the IRS has announced Hurricane relief: The due date for 2023 and 2024 tax returns has been extended to May 1, 2025.

2023 returns must have had a valid extension filed
Tax payments in these states are extended until May 1, 2025
2024 Q4 estimated payments due January 15, 2024 are now due May 1, 2025
2025 Q1 estimated payments due April 15, 2025, are now due May 1, 2025

For details, view the IRS releases:

IR-2024-264, October 11, 2024: IRS provides Hurricane Milton relief; May 1 deadline now applies to individuals and businesses in all of Florida; many businesses qualify for deposit penalty relief
IR-2024-253, October 1, 2024: IRS provides relief for Helene; various deadlines postponed to May 1, 2025; part or all of 7 states qualify

If you have any questions about this tax update, please contact BakerAvenue.

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