The Internal Revenue Service has issued final regulations related to postponement of certain tax-related deadlines due to either service in a combat zone or a federally declared disaster.
The regulations in TD 9443 reflect changes in the law made by the Victims of Terrorism Tax Relief Act of 2001, the Tax Extenders and Alternative Minimum Tax Relief Act of 2008, and current IRS practice.
The final regulations were revised throughout to use the term "federally declared disaster" instead of "presidentially declared disaster" when referring to any disaster determined by the president to warrant the assistance of the federal government.
Another section has been revised to expand the definition of "affected taxpayer" to include any individual, business entity or sole proprietorship not located in a covered disaster area, but whose records necessary to meet a deadline for a specified act are located in the covered disaster area. Another section of the final regulations further expands the definition of affected taxpayer to include any individual visiting the covered disaster area who was killed or injured as a result of the disaster.
A different section has been revised to include a new example that reflects current IRS practice and explains the impact of disaster relief on installment agreement payments that become due during the postponement period.
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