Tax Tip Tuesday: Good News, Florida – Tax Day is not Today (for You)!

While much of the country is scrambling with last-minute tax filings, Florida residents can breathe easy and enjoy that extra coffee break. Due to the havoc caused by Hurricanes Helene and Milton, the IRS has extended the deadline for Floridians to file returns and make payments until May 1, 2025. This extension provides much-needed relief after the chaos of the storm season.

Who Qualifies for an Extension this Tax Day?

This extension applies to all Florida taxpayers—whether individual, business, or tax-exempt organization—who had tax filings or payments originally due between October 5, 2024, and May 1, 2025. If you fall into this category, you have until May 1, 2025, to meet those obligations without penalties.

Key Actions for Taxpayers

• File Promptly: Even with the extension, you should file your return as soon as possible to expedite any refunds and avoid delays.

• Pay What You Can: If you cannot pay the full amount by May 1, 2025, pay what you can to reduce interest and penalties. The IRS offers payment plans for those who need additional time.

• Stay Informed: Regularly check the IRS website or consult a tax professional for updates on any further relief or changes.

Use the Extra Time Wisely

Whether catching up on paperwork or taking a well-deserved break, this extension gives you extra time to file without the usual rush. While the extension offers more time, addressing your tax obligations sooner rather than later can help alleviate stress and ensure compliance with IRS regulations.

Happy (extended) Tax Day!

Here to Help

If you have any questions, we are here to help. We build value-added relationships with each client to understand their business structure and provide solid solutions. Our approach offers direct access to the firm's decision-makers. Our innovative cross-functional services help businesses address the challenges ahead.