Drake Software blog for tax pros, covering tax, IRS news, and more

Tax Relief - Hurricane Isaac victims

Tax Relief - Hurricane Isaac victims

Tax Relief - Hurricane Isaac victims

The IRS has announced tax relief for individuals and businesses affected by Hurricane Isaac.
So far, IRS filing and payment relief applies to the following localities:

  • In Louisiana: Ascension, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, St. Bernard, St. Charles, St. John the Baptist and St. Tammany parishes;
  • In Mississippi: Hancock, Harrison, Jackson and Pearl counties.
-          affected individuals and businesses have until 1.11.2013 to file returns and pay any taxes due on filings and payment deadlines occurring on or after 8.26.2012
-          included are those filings previously extended by businesses until 9.17.2012 and by individuals and businesses until 10.15.2012
-          third quarter estimated tax payments are included (9.17.2012 due date)
-          interest, late-payment or late-filing penalties that would otherwise apply will be abated
-          failure-to-deposit penalties for federal employment and excise tax deposits normally due on or after 8.26.2012 and before 9.10.2012 will be waived if deposits are made by 9.10.2012

More details on tax relief and claiming disaster losses can be found at: http://www.irs.gov/uac/Tax-Relief-in-Disaster-Situations.

admin taxing_subjects

The Taxing Subjects staff is proud to cover the latest in tax-industry-related news, from tax law and IRS updates to technology and business strategies. If you have questions about an article or just want to reach out to the Taxing Subjects staff, email comments@taxingsubjects.com.

comments powered by Disqus