The IRS is offering additional tax relief to individuals and businesses affected by Hurricane Sandy.

Tax deadlines are further extended until April 1 for Monmouth and Ocean Counties in New Jersey and Nassau, Queens, Richmond and Suffolk Counties in New York.

The relief postpones various filing and payment deadlines that occurred starting in late October. This includes the fourth quarter individual estimated tax payment (normally due Jan. 15, 2013); the payroll and excise tax returns and accompanying payments for the third and fourth quarters (normally due Oct. 31, 2012, and Jan. 31, 2013) and calendar-year corporate income tax returns due March 15. It also applies to tax-exempt organizations required to file 990 series returns with an original or extended deadline falling during this period. 

The IRS will work with any taxpayer who resides outside the disaster area but whose books, records or tax professional are located in the areas affected by Sandy. All workers assisting the relief activities in the covered disaster areas who are affiliated with a recognized government or philanthropic organization are also eligible for relief.

Preparers with questions on behalf of taxpayers who live outside of the impacted area but who may qualify for this relief should call the IRS at (866) 562-5227.

The IRS also said that Taxpayer Assistance Centers in several New York and New Jersey locations will be open additional hours to provide help to taxpayers impacted by Sandy, and special assistance will be available at several New Jersey and New York locations on Saturday, Feb. 23, from 9 a.m. until 2 p.m. More information will be available on the IRS Web site.

The IRS will abate any interest, late-payment or late-filing penalty that would otherwise apply. The IRS automatically provides this relief to any taxpayer located in the disaster area. Taxpayers need not contact the IRS to get this relief.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access