IRS gives leeway to Taxpayers victimized by Hurricane Sandy
Hurricane Sandy left a lot of work for American households. The last thing that you want to worry is being able to file IRS tax and make payments ahead of deadline. Good news is that IRS understands what most of the people from the East Coast are going through and they are willing to help.
For federally declared disaster, IRSmay reschedule various tax deadlines for taxpayers who are living near the affected area by as much as one year.
This applies to: A. an individual whose primary residence is situated in the disaster area; B. any business entity wherein the location of the business place is a covered disaster area; C. taxpayers who are not in the disaster area but will have to meet an IRS deadline in the area; D. a relief worker helping in a covered disaster area; E. a husband or wife of the taxpayer for intentionally filing a joint tax return; F. any person who was visiting the covered disaster area and was killed or injured as a result of the calamity.
The benefits mentioned above are automatic. Taxpayers are not required for anything except that they belong to one or more categories. IRS will terminate any interest, late payments, and late-filing penalty.
The deadline for hurricane Sandy victims are already moved. IRS already moved the date to Nov. 7 instead of Oct. 31 for taxpayers and tax preparers to file returns and tax payments.
Furthermore, IRS is on the course of postponing other tax deadlines for those taxpayers that were affected by Hurricane Sandy. Any announcement to make in the future will be posted in Tax Relief In Disaster Situations Web Page.
In the Federal Emergency Management Agency (FEMA) website, one can easily locate a county if it is included in a federal disaster area.
If you live in the Sandy disaster area and receive a penalty notice from the IRS, it is advisable to call the telephone number on the notification to have IRS lessen or terminate the interest any late-filing or penalties that would be due.
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