Filing and Payment Deadlines Extended for Some Hurricane Sandy Victims

As part of a coordinated federal response to the damage caused by Hurricane Sandy and based on local damage assessments by FEMA, the IRS on February 1 announced additional tax relief for affected individuals and businesses in the counties of Monmouth and Ocean in New Jersey and Nassau, Queens, Richmond and Suffolk in New York. The tax relief postpones various tax filing and payment deadlines that occurred starting in late October; as a result, affected individuals and businesses will have until April 1, 2013, to file these returns and pay any taxes due.

The relief includes the fourth-quarter individual estimated tax payment, normally due on January 15, 2013. It also includes payroll and excise tax returns and accompanying payments for the third and fourth quarters, normally due on October 31, 2012, and January 31, 2013, respectively, and calendar-year corporate income tax returns due on March 15. It also applies to tax-exempt organizations required to file Form 990 series returns with an original or extended deadline falling during this period. Further, any interest, late-payment or late-filing penalty that would otherwise apply will be abated. The IRS automatically provides this relief to any taxpayer located in the disaster area. Taxpayers need not contact the IRS to get this relief.

The IRS will work with any taxpayer who resides outside the disaster area but whose books, records or tax professional are located in the areas affected by Hurricane Sandy. All workers assisting in the relief activities in the covered disaster areas who are affiliated with a recognized government or philanthropic organization are also eligible for relief. Taxpayers who live outside of the impacted area and believe they may qualify for this relief need to contact the IRS at 866-562-5227.

In addition, Taxpayer Assistance Centers in several New York and New Jersey locations will be open additional hours to provide help to taxpayers impacted by the hurricane. Special assistance will also available at several New Jersey and New York locations on Saturday, February 23 from 9:00 a.m. until 2:00 p.m.