Tax Relief in Natural Disasters

The past couple of months have been punctuated by an abnormally high number of catastrophic storms across the country. The effects of these disasters were felt from coast to coast and will continue to be felt for a long time to come. Events such as these provide a tangible reminder of how precious life can be. The IRS is one of many government agencies doing their part to do everything they can to ease the burden on those affected by the storms. As is common practice the IRS has set up various forms of tax relief that are available to those in affected areas. Recently they have set up such programs for victims in Kentucky, Mississippi, Tennessee, Missouri, Arkansas, Mississippi, Georgia, Alabama, Oklahoma, and North Carolina. Many of these areas qualify for relief measure such as extended filing deadlines, waved penalties, and more. For more information please visit the IRS page for Tax Relief in Disaster situations here or few the applicable fact sheets here and here.