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October 15, 2024: Final Deadline for 2023 Tax Extensions and Federal Returns Plus Disaster Relief Extensions

The final federal filing deadline for 2023 individual income tax returns is Tuesday, October 15, 2024. This deadline also applies to calendar-year C Corporations (Form 1120) and Estate/Trust returns (Form 1041). Returns filed after this date will incur a penalty of 5% of the unpaid tax per month (up to a maximum of 25%). 

Key Deadline:

  • For Individuals: e-Filed returns rejected on October 15 will be considered timely if retransmitted and accepted by October 20. 
  • For Corporations: e-Filed returns rejected on October 15 will be considered timely if retransmitted and accepted by October 25. 

Special Extensions for Certain Taxpayers:

  1. Military Personnel in Combat Zones: 
  • Members of the military serving in combat zones have 180 days after leaving the combat zone to file returns and pay any taxes due. 
  1. Taxpayers Affected by October 7, 2023, Terrorist Attacks in Israel: 
  • These taxpayers have until September 30, 2025, to file 2023 returns and pay any taxes due. 
  1. Disaster-Affected Taxpayers: The IRS has extended deadlines for individuals and businesses affected by certain disasters: 

November 1, 2024

  • Texas: Taxpayers in several counties affected by storms, tornadoes, and flooding beginning April 26, 2024. IRS News Release TX-2024-13 

February 3, 2025

  • Georgia, South Carolina, North Carolina: Taxpayers affected by storms from Hurricane Deby in August 2024. IRS News Release GA-2024-07 

Disaster Relief Tax Extension for Hurricane Helene Victims – May 1, 2025

  • North Carolina, Georgia, South Carolina, Alabama: Taxpayers in these states affected by Hurricane Helene starting September 25, 2024. IRS News Release NC-2024-08 
  • Tennessee, Florida, Virginia: Taxpayers affected by Tropical Storm Helene starting September 23-26, 2024. IRS News Release FL-2024-08 

For more details and the specific counties affected, please refer to the respective IRS News Releases. For additional information, visit IRS News Release IR-2024-260. 

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IRS Provides Relief to Hurricane Milton Victims in Florida

In response to the devastation caused by Hurricane Milton, the IRS has extended the filing and payment deadline to May 1, 2025 for individuals and businesses affected throughout Florida.

This extension applies to:

  • 2023 individual and corporate tax returns with valid extensions.
  • Quarterly estimated tax payments.
  • 2024 individual and business tax returns due in March and April 2025.

For further details, refer to IRS News Release IR-2024-264 (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).

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CrossLink is the industry’s leading professional tax software solution for high-volume tax businesses. Built based on the needs of busy tax offices and mobile tax preparers that specialize in providing their taxpayer clients with fast and accurate tax returns, CrossLink has been a trusted software solution since 1989. CrossLink’s in-depth tax calculations, advanced technological features, and paperless solutions allow you to prepare the most complicated tax returns with confidence and ease while providing your customers with an unparalleled experience.

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Mark Castro, CPA

Mark has been with CrossLink Professional Tax Solutions (CPTS) since 2008, but has been in the tax industry since 1990. As the government/tax industry liaison for CPTS, Mark has been very active in working with the IRS, States, and other tax industry members to help improve communications, promote standardization, and simplification of eFile systems. Mark has also been active with industry associations as a board member of the National Association of Computerized Processors (NACTP) and the Council of Electronic Revenue Communication Advancement (CERCA) for many years. These two associations work with the IRS and States to help solve key eFile and electronic tax system issues and work to improve the operations of the State and IRS eFile systems.
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