Sandy Adjustments

As with any natural disaster, Sandy has caused some problems and adjustments for taxpayers and preparers.

The IRS has announced that taxpayers in the Mid-Atlantic and North Eastern states have until November 7the to file and pay tax returns which are due today. This is mostly payroll and excise taxes and the extension is automatic. If the taxpayer does receive a penalty notice for this period, they should contact the IRS and they will abate the penalties. See IR-2012-82.

From TaxPro Today, the IRS said that the PTIN system was down yesterday (I assume that means it’s up now but don’t be surprised if it’s not.) Also Prometric has cancelled tests for both RTRP and SEE in some East Coast areas for Wednesday. They will contact test takes by email with notice of the closures and how to reschedule.

If you aren't in a Sandy affected area, think about making a contribution to the Red Cross, Salvation Army or other disaster relief organization. It might be tax deductible for you. If not, it'll make you feel good.

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