IRS Extends Tax Deadlines for Katrina Victims
Following Katrina, the IRS acted quickly to relieve victims of
any tax burdens. One step was to extend any tax filing dates to
late October and now those dates have been extended again.
Emergency Tax Relief Act
On September 23, 2005, President Bush signed the Katrina
Emergency Tax Relief Act of 2005 into law with massive
bipartisan support. The Act contains numerous provisions with
one of the most important being the extension of tax filing
deadlines. Specifically, victims of Hurricane Katrina have been
granted an automatic extension until February 28, 2006. The
extension covers the filing of taxes, paying of taxes and other
related tax items
To benefit from the Tax Relief Act, hurricane victims need to
take the following steps. For victims located in areas
designated as "individual assistance areas" by FEMA (Federal
Emergency Management Agency) the tax relief is automatic and no
action is required to be taken. Of course, you need to make sure
FEMA has actually gotten around to visiting your area.
If FEMA has designated your area a "public assistance" area, you
are actually going to have to contact the IRS to claim relief
under the Act. To do this, you must simply write "Hurricane
Katrina" in red ink on the top of any tax filings with the IRS.
If you're not sure what to do, you can contact the IRS disaster
hotline at 866-562-5227.
Obviously, taxes and the IRS are and should be low priority
items for victims of Hurricane Katrina. The IRS, however, should
be commended for taking immediate action to grant tax relief
instead of staggering around like a drunken sailor as we
observed with FEMA.