The IRS has announced (IR-2013-53) its tax relief for victims of the Oklahoma tornados on Monday. Taxpayers in Cleveland, Lincoln, McClain, Oklahoma and Pottawatomie counties (possibly more to be added later) will be able to postpone tax and payment filings until September 30th.The IRS will abate failure to file and failure to pay penalties for taxpayers who have to delay their tax filings.
The tax and payment filings include any due from May 18th. This will include 2nd and 3rd quarter estimates for individuals and a wide variety of business taxes. The IRS will also work with taxpayers whose books and records are in the disaster area and workers with recognized relief organizations but live outside the disaster area. (They can contact the IRS at 866-562-5227.)
The IRS also reminds taxpayers who might qualify to take a casualty loss that they don’t have to wait until filing their 2013 tax return. Since they are in a federal disaster area, they have the option of taking the loss on their 2012 return. They can file an amended return or, if they haven’t filed a return yet, original 2012 return.
For more disaster relief, tax and otherwise, check out the disaster website.