Tag Archives: Disaster relief

IRS Gives Tax Relief to Victims of Hurricane Harvey; Parts of Texas Now Eligible; Extension Filers Have Until Jan. 31 to File

August 28, 2017

WASHINGTON –– Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.

This includes an additional filing extension for taxpayers with valid extensions that run out on Oct. 16, and businesses with extensions that run out on Sept. 15.

“This has been a devastating storm, and the IRS will move quickly to provide tax relief to hurricane victims,” said IRS Commissioner John Koskinen. “The IRS will continue to closely monitor the storm’s aftermath, and we anticipate providing additional relief for other affected areas in the near future.”

The IRS is now offering this expanded relief to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying for individual assistance. Currently, 18 counties are eligible, but taxpayers in localities added later to the disaster area will automatically receive the same filing and payment relief.

The tax relief postpones various tax filing and payment deadlines that occurred starting on Aug. 23, 2017. As a result, affected individuals and businesses will have until Jan. 31, 2018, to file returns and pay any taxes that were originally due during this period. This includes the Sept. 15, 2017 and Jan. 16, 2018 deadlines for making quarterly estimated tax payments. For individual tax filers, it also includes 2016 income tax returns that received a tax-filing extension until Oct. 16, 2017. The IRS noted, however, that because tax payments related to these 2016 returns were originally due on April 18, 2017, those payments are not eligible for this relief.

A variety of business tax deadlines are also affected including the Oct. 31 deadline for quarterly payroll and excise tax returns. In addition, the IRS is waiving late-deposit penalties for federal payroll and excise tax deposits normally due on or after Aug. 23 and before Sept. 7, if the deposits are made by Sept. 7, 2017. Details on available relief can be found on the disaster relief page on IRS.gov.

The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. Thus, taxpayers need not contact the IRS to get this relief. However, if an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, the taxpayer should call the number on the notice to have the penalty abated.

In addition, the IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227. This also includes workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization.

Individuals and businesses who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on either the return for the year the loss occurred (in this instance, the 2017 return normally filed next year), or the return for the prior year (2016). See Publication 547 for details.

Currently, the following Texas counties are eligible for relief: Aransas, Bee, Brazoria, Calhoun, Chambers, Fort Bend, Galveston, Goliad, Harris, Jackson, Kleberg, Liberty, Matagorda, Nueces, Refugio, San Patricio, Victoria and Wharton.

The tax relief is part of a coordinated federal response to the damage caused by severe storms and flooding and is based on local damage assessments by FEMA. For information on disaster recovery, visit disasterassistance.gov.

For information on government-wide efforts related to Hurricane Harvey, please visit: https://www.usa.gov/hurricane-harvey

As always, feel free to call on Tax On Wheels, LLC at 803 732-4288 if we can be of assistance to you.

IRS Gives Victims of Hurricane Matthew Until March 15 to File

October 17, 2016

IRS Gives Expanded Tax Relief to Victims of Hurricane Matthew; Parts of Four States Eligible; Extension Filers Have Until March 15 to File

Caution:  This is not an extension to pay taxes due by April 17, 2016! Read this carefully to understand the relief granted.

WASHINGTON –– Hurricane Matthew victims in much of North Carolina and parts of South Carolina, Georgia and Florida have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. This includes an additional filing extension for those with valid extensions that run out at midnight tonight, Oct. 17.

The IRS is now offering this expanded relief to any area designated by the Federal Emergency Management Agency (FEMA), as qualifying for either individual assistance or public assistance. Moreover, taxpayers in counties added later to the disaster area will automatically receive the same filing and payment relief.

The IRS is taking this step due to the unusual factors involving Hurricane Matthew and the interaction with the Oct. 17 extension deadline.

The tax relief postpones various tax filing and payment deadlines that occurred starting on Oct. 4, 2016. As a result, affected individuals and businesses will have until March 15, 2017, to file returns and pay any taxes that were originally due during this period. This includes the Jan. 17 deadline for making quarterly estimated tax payments. For individual tax filers, it also includes 2015 income tax returns that received a tax-filing extension until today, Oct. 17, 2016. The IRS noted, however, that because tax payments related to these 2015 returns were originally due on April 18, 2016, those are not eligible for this relief.

A variety of business tax deadlines are also affected including the Oct. 31 and Jan. 31 deadlines for quarterly payroll and excise tax returns. It also includes the special March 1 deadline that applies to farmers and fishermen who choose to forgo making quarterly estimated tax payments.

In addition, the IRS is waiving late-deposit penalties for federal payroll and excise tax deposits normally due on or after Oct. 4 and before Oct. 19 if the deposits are made by Oct. 19, 2016. Details on available relief can be found on the disaster relief page on IRS.gov.

The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. Thus, taxpayers need not contact the IRS to get this relief. However, if an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, the taxpayer should call the number on the notice to have the penalty abated.

In addition, the IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227. This also includes workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization.

Individuals and businesses who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on either the return for the year the loss occurred (in this instance, the 2016 return normally filed next year), or the return for the prior year (2015). See Publication 547 for details.

Currently, the following areas are eligible for relief:

North Carolina: Beaufort, Bertie, Bladen, Brunswick, Camden, Carteret, Chowan, Columbus, Craven, Cumberland, Currituck, Dare, Duplin, Edgecombe, Gates, Greene, Harnett, Hoke, Hyde, Johnston, Jones, Lenoir, Martin, Nash, New Hanover, Onslow, Pamlico, Pasquotank, Pender, Perquimans, Pitt, Robeson, Sampson, Tyrrell, Washington, Wayne and Wilson counties.

South Carolina: Beaufort, Berkeley, Charleston, Colleton, Darlington, Dillon, Dorchester, Florence, Georgetown, Horry, Jasper, Marion, Orangeburg and Williamsburg counties.

Georgia: Bryan, Camden, Chatham, Glynn, Liberty and McIntosh counties.

Florida: Brevard, Duval, Flagler, Indian River, Nassau, St. Johns, St. Lucie and Volusia counties.

The tax relief is part of a coordinated federal response to the damage caused by severe storms and flooding and is based on local damage assessments by FEMA. For information on disaster recovery, visit disasterassistance.gov.

As always, please feel free to contact Tax On Wheels,LLC at 803 732-4288 if you need assistance with this or any tax related matter.

IRS Gives Tax Relief to Victims of Hurricane Matthew

October 12, 2016

Victims of Hurricane Matthew, which took place beginning on October 4, 2016, in parts of North Carolina, may qualify for tax relief. The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area.

Affected areas that currently qualify include Beaufort, Bladen, Columbus, Cumberland, Edgecombe, Hoke, Lenoir, Nash, Pitt and Robeson counties. Continue to check the Tax Relief in Disaster Situations page to stay up-to-date on eligible areas and updated deadlines. The IRS expects additional states to be included in the extended relief.

Certain deadlines falling on or after October 4, 2016, and on or before March 15, 2017, have been postponed to March 15, 2017. This includes the 2015 individual returns on extension originally due on October 17 and the January 17, 2017, deadline for making quarterly estimated tax payments. Also included are the October 31 and January 31 deadlines for quarterly payroll and excise tax returns.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers and their tax preparers 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.

More details can be found in IR-2016-131.

As always, please feel free to contact us here at Tax On Wheels, LLC at 803 732-4288 if we can assist you with this or any other tax matter.

 

SCDOR Offering Hurricane Matthew Tax Relief for Certain Taxpayers

October 12, 2016
The South Carolina Department of Revenue is extending certain South Carolina tax deadlines for taxpayers in counties declared a federal disaster area. Official information including tax types and deadlines will be outlined in a forthcoming SCDOR Information Letter. Affected counties include:
  • Beaufort
  • Berkeley
  • Charleston
  • Colleton
  • Darlington
  • Dillon
  • Dorchester
  • Florence
  • Georgetown
  • Horry
  • Jasper
  • Marion
  • Williamsburg
For More Information:
DOR Public Affairs Office
(803) 898-5773
As always, please feel free to contact Tax On Wheels, LLC at 803 732-4288 if we can be of assistance to you with this or any other tax matter.

South Carolina Department of Revenue offers flood victim relief

10/9/2015

The South Carolina Department of Revenue has issued notice that it will provide relief to taxpayers affected by the recent flood disaster event.  The state promises to essentially mirror the relief provided by the federal government.

Here is a link to a PDF document discussing this relief.

Please feel free to contact Tax On Wheels, LLC at 803 732-4288 if we can be of assistance to you in any matters regarding the South Carolina Department of Revenue.

 

IRS Provides Tax Relief to South Carolina Flood Victims

10/7/2015

IRS YouTube Videos

Help for Disaster Victims: English | Spanish | ASL

WASHINGTON ––South Carolina flood victims, including individuals and businesses that previously received a tax-filing extension to Oct. 15, will have until Feb. 16, 2016, to file their returns and pay any taxes due, the Internal Revenue Service announced today. All workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization also qualify for relief.

Following this week’s disaster declaration for individual assistance issued by the Federal Emergency Management Agency (FEMA), the IRS said that affected taxpayers in Berkeley, Charleston, Clarendon, Dorchester, Georgetown, Horry, Lexington, Orangeburg, Richland, Sumter and Williamsburg Counties will receive this and other special tax relief. Other locations may be added in coming days, based on damage assessments by FEMA.

The tax relief postpones various tax filing and payment deadlines that occurred starting on Oct. 1, 2015. As a result, affected individuals and businesses will have until Feb. 16, 2016, to file these returns and pay any taxes due. Besides the Oct. 15 extension deadline, this also includes the Jan. 15, 2016, deadline for making quarterly estimated tax payments. A variety of business tax deadlines are also affected including the Nov. 2, 2015, and Feb. 1, 2016, deadlines for quarterly payroll and excise tax returns.

The IRS will abate any interest, late-payment or late-filing penalty that would otherwise apply. The agency automatically provides this relief to any taxpayer with an IRS address of record located in the disaster area. Taxpayers need not contact the IRS to get this relief.

Beyond Designated Disaster Areas

The IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227.

Individuals and businesses who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on either last year’s or this year’s return. Claiming these casualty loss deductions on either an original or amended 2014 return will get the taxpayer an earlier refund but waiting to claim them on a 2015 return could result in greater tax savings depending upon other income factors.

In addition, the IRS is waiving late-deposit penalties for federal payroll and excise tax deposits normally due on or after Oct. 1 and before Oct. 16 if the deposits are made by Oct. 16, 2015. Details on available relief can be found on the disaster relief page on IRS.gov.

The tax relief is part of a coordinated federal response to the damage caused by severe storms and flooding and is based on local damage assessments by FEMA. For information on disaster recovery, visit disasterassistance.gov.

Disaster victims in other parts of the country also qualify for tax relief, based on federal disaster declarations issued earlier this year. Currently, individuals and businesses in parts of California, Kentucky, Texas and the Northern Mariana Islands may qualify for filing and payment relief. See the IRS Disaster Relief page for details.

Please contact Tax On Wheels, LLC at 803 732-4288 if you need assistance with this or any other tax issue.

South Carolina disaster county list update, IRS tax relief

10/7/2015

The IRS has updated the list of counties covered by the disaster declaration and has issued the following communication.

As the damage continues to be assessed I expect the Declaration will continue to be amended. Berkeley, Sumter and Clarendon counties have now been added.  I just received the FEMA order that substantiates this information.

Again, below is the link to our page on IRS.gov specific to the South Carolina event.  Last I checked it still just shows the original counties, but it will be updated.

http://www.irs.gov/uac/Tax-Relief-for-Victims-of-Severe-Storms-and-Flooding-in-South-Carolina

As always, please contact Tax On Wheels, LLC at 803 732-4288 if you need assistance with this or any other tax issue.

South Carolina declared a federal disaster area, IRS tax relief

October 6, 2015

We have received the following communication from the IRS regarding the South Carolina disaster flooding event for October 2015.

Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in South Carolina will receive tax relief.

The President has declared Charleston, Dorchester, Georgetown, Horry, Lexington, Orangeburg, Richland, and Williamsburg counties a federal disaster area. Individuals who reside or have a business in these counties may qualify for tax relief. One important form of relief is the extension of the October 15th filing deadline.  Please study the webpage below for details.

Now that certain counties have been identified in the declaration of disaster areas by the President and FEMA has been notified to provide assistance, the Secretary of the Treasury has authorized specific relief become available to taxpayers affected by the storm.  Instead of providing the webpage in document form, I am providing the link to the page on IRS.gov.  This is the best way to keep informed as updates will be made to the public here.

http://www.irs.gov/uac/Tax-Relief-for-Victims-of-Severe-Storms-and-Flooding-in-South-Carolina  (If you have trouble linking to this, copy and paste this into your browser.)

We. will post updates as they become available.

As always, please contact Tax On Wheels, LLC at 803 732-4288 if you need assistance with this or any tax issue.

 

Safeguard Your Tax Records as Hurricane Season Approaches

June 1, 2015

IRS YouTube Videos
Preparing for Disasters:
English | Spanish | ASL

Podcast
Disaster Assistance:
English | Spanish

 IR-2015-83,

WASHINGTON – Hurricane season starts next week and the Internal Revenue Service advises individuals and businesses to safeguard their records against natural disasters by taking a few simple steps.

Create an Electronic Additional Set of Records

Taxpayers should keep a duplicate set of records including bank statements, tax returns, identifications and insurance policies in a safe place such as a waterproof container, and away from the original set.

Keeping an additional set of records is easier now that many financial institutions provide statements and documents electronically, and much financial information is available on the Internet. Even if the original records are only provided on paper, these can be scanned into an electronic format. This way, taxpayers can save them to the cloud, download them to a storage device such as an external hard drive or USB flash drive, or burn them to a CD or DVD.

Document Valuables

Another step a taxpayer can take to prepare for a disaster is to photograph or videotape the contents of his or her home, especially items of higher value. The IRS has a disaster loss workbook,Publication 584cas, which can help taxpayers compile a room-by-room list of belongings.

A photographic record can help an individual prove the fair market value of items for insurance and casualty loss claims. Ideally, photos should be stored with a friend or family member who lives outside the area.

Update Emergency Plans

Emergency plans should be reviewed annually. Personal and business situations change over time as do preparedness needs. When employers hire new employees or when a company organization changes functions, plans should be updated accordingly and employees should be informed of the changes. Make your plans ahead of time and practice them.

Check on Fiduciary Bonds

Employers who use payroll service providers should ask the provider if it has a fiduciary bond in place. The bond could protect the employer in the event of default by the payroll service provider.

IRS Ready to Help

If disaster strikes, an affected taxpayer can call 1-866-562-5227 to speak with an IRS specialist trained to handle disaster-related issues.

Back copies of previously-filed tax returns and all attachments, including Forms W-2, can be requested by filingForm 4506, Request for Copy of Tax Return.  Alternatively, transcripts showing most line items on these returns can be ordered by calling 1-800-908-9946 or by using Form 4506T-EZ, Short Form Request for Individual Tax Return Transcript  or Form 4506-T, Request for Transcript of Tax Return.  

Tax On Wheels, LLC is happy to assist you anytime you need help with your tax records.  Be sure and jot down our telephone number, 803 732-4288, and keep it with your disaster recovery plans just in case you need us to act on your behalf.