Monday 11th of December 2017 12:19:46 AM

  • Tax Relief Granted to Storm Victims in Illinois

    Wednesday 15th of May 2013 10:24:29 AM

    Residents of Chicago, Illinois and other parts of Illinois may qualify for tax relief due to the latest storms that began on April 16, 2013.  Victims of this severe storm that caused extreme winds and flooding may qualify for tax relief, according to the Internal Revenue Service.

    The President of the United States, Barack Obama, has confirmed Cook, DeKalb, DuPage, Fulton, Grundy, Kane, Kendall, Lake, LaSalle, McHenry and Will counties to be federal disaster area. Residents of these areas including those that do business in these areas may qualify for tax relief.

    Based on this declaration, made by the President, the Internal Revenue Service is permitted to postpone certain deadlines for US tax payers who live in or do business in the mentioned disaster areas. For example, certain deadlines that would have fallen on April 16 as well as on or prior to July 1 have been deferred to July 1, 2013. That would include the June 17 deadline for second quarter tax payments.

    The IRS is also waiving the penalties that would have been imposed for failing to deposit employment and excise tax deposits that would have been due on April 16, 2013 and those that were due on or before May 1, 2013.

    If tax payers that reside in the disaster areas should receive a penalty notice from the IRS, at this time those affected tax payers should phone the IRS for abatement of penalties or interests. Keep in mind that penalties or interests will be removed only for those tax payers who possess an original or extended filing, payment or deposit due date that falls within the deferment period.

    If you are an affected tax payer that lives or does business outside of the covered disaster areas and need tax relief you must at this time contact the IRS disaster hotline 866-562-5227.

     

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