Fri, June 17, 2011
Tax Relief for Storm, Tornado Victims in Massachusetts and Vermont
The IRS announced yesterday that taxpayers who were victims of storms in parts of Vermont on April 23 and the June 1 tornadoes in certain counties in Massachusetts are granted additional time to make some tax payments.
Due to the designation of several areas as federal disaster areas, the Internal Revenue Service will grant tax relief for residents and businesses in Hampden and Worcester counties in Massachusetts and Addison, Chittenden, Essex, Franklin, Grand Isle, Lamoille and Orleans counties in Vermont.
Various deadlines that would have fallen on or after June 1, including the second quarter estimated tax payment normally due on June 15th, have been postponed to August 8th. The IRS has also waived failure-to-deposit penalties for employment and excise tax deposits due on between June 1 and June 16, as long as the deposits were made by June 16. Deadlines for certain other time-sensitive acts also have been postponed.
Taxpayers affected by these disasters can call the IRS for an abatement of any penalties that would otherwise apply if they receive a penalty notice. Although the IRS tries to identify taxpayers in the covered areas automatically, taxpayers affected by disasters who live or have a business outside the covered disaster area are required to call the IRS disaster hotline at 1-866-562-5227 to request tax relief.