Thursday, May 22, 2008
IRS Extends Tax Deadlines for Katrina Victims
Following Katrina, the Internal Revenue Service acted quickly to alleviate victims of any tax burdens. One measure was to widen any tax filing days of the month to late October and now those days of the month have got been extended again.
Emergency Tax Relief Act
On September 23, 2005, President Shrub signed the Katrina Emergency Tax Relief Act of 2005 into law with monolithic bipartizan support. The Act incorporates numerous commissariat with one of the most of import beingness the extension of tax filing deadlines. Specifically, victims of Hurricane Katrina have got been granted an automatic extension until February 28, 2006. The extension covers the filing of taxes, paying of taxes and other related to tax items
To profit from the Tax Relief Act, hurricane victims need to take the following steps. For victims located in countries designated as individual aid areas by FEMA (Federal Emergency Management Agency) the tax relief is automatic and no action is required to be taken. Of course, you need to do certain FEMA have got actually gotten around to visiting your area.
If FEMA have designated your country a public assistance area, you are actually going to have to reach the Internal Revenue Service to claim relief under the Act. To make this, you must simply compose Hurricane Katrina inch reddish ink on the top of any tax filings with the IRS. If youre not certain what to do, you can reach the Internal Revenue Service catastrophe hotline at 866-562-5227.
Obviously, taxes and the Internal Revenue Service are and should be low precedence points for victims of Hurricane Katrina. The IRS, however, should be commended for taking contiguous action to allow tax relief instead of staggering around like a drunken crewman as we observed with FEMA.