Following recent disaster declarations for individual assistance
issued by the Federal Emergency Management Agency (FEMA), the
Internal Revenue Service (IRS) has announced additional tax relief
for taxpayers in Connecticut, New Jersey, New York and Rhode Island
affected by Hurricane Sandy. Other locations may be added based on
additional damage assessments conducted by FEMA.
The tax relief postpones various tax filing and payment
deadlines that occurred beginning in late October 2012. Affected
individuals and businesses will have until Feb. 1 to file returns
and pay any taxes due, including fourth-quarter or individual
estimated tax payments normally due Jan. 15. The Feb. 1 extension
also applies to payroll and excise tax returns and accompanying
payments for the third and fourth quarters normally due Oct. 31,
2012, and Jan. 31, 2013, respectively, and tax-exempt organizations
required to file Form 990 series returns with an original or
extended deadline falling during this period.
The IRS will abate any interest, late-payment or late-filing
penalty that otherwise would apply. The IRS automatically provides
this relief to any taxpayer located in the disaster areas.
Taxpayers do not need to contact the...
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