May 1 Tax Filing Deadline for Florida Residents

Due to Hurricanes Debby, Helen, and Milton, the IRS extended the tax filing deadline for all Florida residents to May 1. The new deadline applies to individuals, businesses, and tax-exempt organizations.

Failure to File Penalty

If a person cannot afford to pay all taxes due, they can avoid a failure to file penalty by submitting a return or applying for an extension before the tax filing deadline.

The IRS offers three options to extend the filing deadline to October 15:

• Pay some of what is owed through the IRS online payment system.
• Electronically file for an extension using tax software.
• Complete IRS Form 4868 and mail it to the Department of Treasury, IRS Service Center.

Filing for an extension does not eliminate the failure to pay penalty. The penalty amount is based on how long the taxes are overdue and how much remains unpaid.

Deadline to Collect a Refund

People who are owed a refund have up to three years to file and collect. There is no penalty for filing after the deadline in a refund situation. If you are owed a refund and do not file, the IRS will not send you a notice telling you to file.

Free Tax Prep Software

Hillsborough County Extension is offering access to free tax software. Adjusted gross income on the return cannot exceed $84,000. Complete a short form at https://go.ufl.edu/taxfree and you will be instantly emailed a link to the free software.

If AGI exceeds $84,000 DIRECT File may be an option.

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