The IRS is granting tax relief to Florida taxpayers affected by Hurricane Idalia. After President Biden declared 46 Florida counties disaster areas, the IRS extended filing and payment deadlines for impacted individuals and businesses. For deadlines on or after Aug. 27, 2023, and before Feb. 15, 2024, taxpayers must now file or pay by Feb. 15, 2024. The IRS is also excusing late penalties for employment and excise tax deposits due on or after Aug. 27, 2023, and before Sept. 11, 2023. What’s more, Idalia victims are allowed to claim casualty losses not covered by insurance on their 2022 or 2023 income tax returns if they’re located in a federal disaster area.
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