Hurricane Matthew Victims Receive Tax Relief from IRS

by Jim Dieterle 17. October 2016 09:00

Hurricane Matthew, which began October 4th, wrought havoc on the East Coast. Fortunately for many victims in the wake of its destruction, the IRS will provide tax relief. As with past natural disasters, specifically those declared a major disaster by the Federal Emergency Management Agency (FEMA), the IRS postpones certain deadlines for taxpayers living in or owning businesses in the affected areas.

Specifically, deadlines falling on or after October 4, 2016 and on or before March 15, 2017 will be postponed to March 15, 2017. Also included are the quarterly payroll and excise tax returns due Oct 31st and Jan 31st. Additionally, the IRS will waive failure-to-deposit penalties for employment and excise tax due on or after October 4th, as long as they were deposited by October 19th. Details on available relief can be found on the disaster relief page on IRS.gov.

The IRS automatically identifies taxpayers in the affected areas, but those that reside or own a business outside of that area that qualify need to call the IRS disaster hotline: 866-562-5227.

More information can be found at: https://www.irs.gov/uac/irs-gives-tax-relief-to-victims-of-hurricane-matthew

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