IRS Provides Relief To Hurricane Victims

We often at times can’t help but think of the IRS as enemy instead of our ally.  However, the IRS has fanned their side of humanity by very quickly responding to the needs and sensitivity of all those affected by Hurricane Sandy.  Locally, we may not be personally affected, but undoubtedly our concerns and thoughts can’t help but be with those who were so dramatically impacted by this storm.  Every effort taken to bring relief to the victims is embraced by all.

“The tax relief postpones various tax filings and payment deadlines that occurred starting in late October. As a result, affected individuals and businesses will have until Feb. 1, 2013 to file these returns and pay any taxes due. This includes the fourth quarter individual estimated tax payment, normally due Jan. 15, 2013. It also includes payroll and excise tax returns and accompanying payments for the third and fourth quarters, normally due on Oct. 31, 2012 and Jan. 31, 2013 respectively.

The IRS will abate any interest, late-payment or late-filing penalty that would otherwise apply. The IRS automatically provides this relief to any taxpayer located in a Federal disaster area.

Beyond the relief provided by law to taxpayers in the FEMA-designated counties, the IRS will work with any taxpayer who resides outside the disaster area but whose books, records or tax professional are located in the areas affected by Hurricane Sandy.” – www.irs.gov