Thursday, September 19, 2013

IRS Releases Announcement Regarding Severe Storms in Colorado

The IRS is providing tax relief to individual and business taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado.
 
The IRS announced today that certain taxpayers in the counties of Adams, Boulder, Larimer and Weld will receive tax relief, and other locations may be added in coming days following additional damage assessments by the Federal Emergency Management Agency (FEMA).

The tax relief postpones certain tax filing and payment deadlines to December 2, 2013. It includes corporations and businesses that previously obtained an extension until September 16, 2013, to file their 2012 returns and individuals and businesses that received a similar extension until October 15. It also includes the estimated tax payment for the third quarter of 2013, which would normally be due September 16.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.

Practitioners located in the covered disaster areas who maintain records necessary to meet a filing or payment deadline for multiple taxpayers outside the disaster area may contact the IRS to identify such clients using the procedures described on the IRS website. The relief typically applies to taxpayers in collections, dealing with a Revenue Officer, Audit, Appeals, Offer In Compromise, or in another collection matter concerning the 

The IRS encourages taxpayers and tax practitioners to monitor the Tax Relief in Disaster Situationsin IRS.gov for updates.

If you have further questions please call me at 720-398-6088 or www.highlandtaxresolution.com

This article was provided by the following organization: 
National Association of Tax Professionals (NATP)
PO Box 8002
Appleton, WI  54912-8002
800.558.3402
www.natptax.com

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