Hurricane Michael victims will get a break on their taxes

Taxpayers who were affected by Hurricane Michael will receive some tax relief, as the IRS granted them additional time to file.

On Friday, the IRS announced that affected residents who had an Oct. 15 extension deadline to file their 2017 tax returns will now have until Feb. 28, 2019 to submit their paperwork.

The IRS also pushed out filing and payment deadlines for affected taxpayers who would have been on the hook for quarterly estimated income tax payments on Jan. 15, 2019. Those individuals will now also have until Feb. 28, 2019 to make the necessary payments.

Click here for more information from the IRS.

Amid natural disasters, the IRS often grants tax relief to affected residents, based on the Federal Emergency Management Agency’s declarations, said Eric Smith, an IRS spokesman.

“What we do is grant relief based on FEMA’s assessments,” said Smith. “The key thing to be aware of is whether it’s going to affect the filing deadline.”

Here’s what you need to know.

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