see this IRS webpage
note there is a typo in one place where the deadline is listed as 2/3/2024 it is 2/3/2025
per the webpage, certain penalties should automatically be waived. if not, call the number in the notice
see the casualty loss section for instructions on claiming losses by filing form 4684
you have extra time – up to six months after the due date of your federal income tax return for 2024 (without regard to any extension of time to file) (ie 10/15/20225) – to make the election to claim the losses on your 2023 return.
you may want to consult a tax pro to see which year would be most beneficial.
if you have specific questions, post them back in this thread
For casualty losses, you can deduct your loss without regard to the usual limits on such deductions, meaning you can deduct the loss even if you don't itemize your other personal deductions.
https://www.irs.gov/taxtopics/tc515
Your loss is the loss in value of the property caused by the storm. If you repair/restore the property to as-was condition, then your costs are allowed to be taken as a a fair estimate of the loss. But if you did not restore the property, or if you made the property better (such as using the insurance money to remodel an outdated kitchen) then you may need an appraisal to determine the amount of your loss. You also can't deduct any part of your loss that was covered by insurance, or that would have been covered by insurance except you decided not to file a claim.
You claim the loss deduction (if you have one) on your tax return using form 4684. You must include the FEMA number of the disaster on your tax return, that will tell the IRS that you are claiming a qualified disaster loss.
Other provisions (like penalty waivers) are explained on the IRS web site at the link provided.