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Thursday, September 1, 2011

IRS provides tax relief to some Irene victims

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Courtesy: CNBC / Published: Thursday, 1 Sep 2011 / 1:58 PM ET.

WASHINGTON - The Internal Revenue Service is extending tax payment deadlines for some individuals and businesses affected by Hurricane Irene.

The tax agency said Thursday the extensions will initially apply to taxpayers in certain counties and municipalities in North Carolina, New Jersey, New York and Puerto Rico. It said the list of eligible taxpayers is expected to grow as the Federal Emergency Management Agency makes further damage assessments.

The tax relief allows businesses that had previously obtained extensions until Sept. 15 to file 2010 returns to wait until Oct. 31. Also given extensions until Oct. 31 are individuals and businesses required to file 2010 returns by Oct. 17 and those who normally would make third-quarter estimated tax payments by Sept. 15.

In North Carolina, the filing and payment relief extends to Beaufort, Carteret, Craven, Dare, Hyde, Pamlico and Tyrell counties. Eligible in New Jersey are Bergen, Essex, Morris, Passaic and Somerset. The New York list is Albany, Delaware, Dutchess, Essex, Greene, Schenectady, Schoharie and Ulster. Puerto Rico areas covered are Caguas, Canovanas, Carolina, Cayey, Loiza, Luquillo and San Juan.

The IRS said taxpayers and tax practitioners should monitor "Tax Relief in Disaster Situations" on the IRS.gov website for further extensions.



             

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