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7/4/2008
Disaster Tax Relief

By Ashleigh Martel, Audit Department

The IRS has recently announced that victims of recent hurricanes, floods, earthquakes, tornadoes, droughts and wildfires in 10 states may qualify to receive an extension on their tax deadlines.

The disaster-areas being permitted these special extensions include counties in Iowa, Indiana, Wisconsin, Arkansas, Colorado, Georgia, Maine, Mississippi, Missouri and Oklahoma.

Affected taxpayers include those living in and those whose principal place of business is located in the covered disaster areas. Also included are those taxpayers who do not directly reside in the covered areas if their tax records, or tax professional’s offices, are located in the covered areas. In addition, relief workers associated with a recognized government or philanthropic organization aiding in the recovery of the disasters are eligible for relief.

Disaster Area and Description	Relief Provided
Iowa, including Adams, Allamakee, Benton, Black Hawk, Bremer, Buchanan, Butler, Cedar, Cerro Gordo, Chicksaw, Clayton, Crawford, Delaware, Des Moines, Fayette, Floyd, Freemont, Hardin, Harrison, Jasper, Johnson, Jones, Linn, Louisa, Mahaska, Marion, Mills, Monona, Muscatine, Page, Polk, Story, Tama, Union, Warren and Winneshiek counties   May 25, 2008 – Severe storms, tornadoes and flooding	Due dates for tax payments and filings with the original or extended deadlines falling on or after May 25, 2008, and on or before July 28, 2008 are postponed to July 28, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after May 25, 2008 and on or before June 9, 2008, assuming the deposits were made by June 9, 2008.
Indiana, including Adams, Bartholomew, Brown, Clay, Daviess, Dearborn, Decatur, Greene, Hamilton, Hancock, Henry, Jackson, Jennings, Johnson, Knox, Marion, Monroe, Morgan, Owen, Parke, Putnam, Randolph, Rush, Shelby, Sullivan, Vermillion, Vigo and Wayne counties   May 30, 2008 – Severe storms and tornadoes	Due dates for tax payments and filings with the original or extended deadlines falling on or after May 30, 2008, and on or before August 7, 2008 are postponed to August 7, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after May 30, 2008 and on or before June 16, 2008, assuming the deposits were made by June 16, 2008.
Wisconsin, including Crawford, Columbia, Dodge, Green, Sauk, Milwaukee, Racine, Richland, Vernon, Washington, Waukesha and Winnebago counties   June 5, 2008 – Severe storms and tornadoes	Due dates for tax payments and filings with the original or extended deadlines falling on or after June 5, 2008, and on or before August 13, 2008 are postponed to August 13, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after June 5, 2008 and on or before June 20, 2008, assuming the deposits were made by June 20, 2008.
Arkansas, including Arkansas, Benton, Cleburne, Conway, Crittenden, Grant, Lonoke, Mississippi, Phillips, Pulaski, Saline and Van Buren counties   May 2, 2008 – Severe storms, flooding and tornadoes	Due dates for tax payments and filings with the original or extended deadlines falling on or after May 2, 2008, and on or before July 21, 2008 are postponed to July 21, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after May 2, 2008 and on or before May 19, 2008, assuming the deposits were made by May 19, 2008.
Colorado, including Larimer and Weld counties   May 22, 2008 – Severe storms and tornadoes	Due dates for tax payments and filings with the original or extended deadlines falling on or after May 22, 2008, and on or before July 25, 2008 are postponed to July 25, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after May 22, 2008 and on or before June 6, 2008, assuming the deposits were made by June 6, 2008.
Georgia, including Bibb, Carroll, Douglas, Emanuel, Jefferson, Jenkins, Johnson, Laurens, McIntosh and Twiggs counties   May 11, 2008 – Severe storms and flooding	Due dates for tax payments and filings with the original or extended deadlines falling on or after May 11, 2008, and on or before July 22, 2008 are postponed to July 22, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after May 11, 2008 and on or before May 27, 2008, assuming the deposits were made by May 27, 2008.
Maine, including Aroostook and Penobscot counties   April 28, 2008 – Severe storms and flooding	Due dates for tax payments and filings with the original or extended deadlines falling on or after April 28, 2008, and on or before July 8, 2008 are postponed to July 8, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after April 28, 2008 and on or before May 13, 2008, assuming the deposits were made by May 13, 2008.
Mississippi, including Hinds county   April 4, 2008 – Severe storms and tornadoes	Due dates for tax payments and filings with the original or extended deadlines falling on or after April 4, 2008, and on or before July 28, 2008 are postponed to July 28, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after April 4, 2008 and on or before April 21, 2008, assuming the deposits were made by April 21, 2008.
Mississippi, including Bolivar, Warren, Washington and Wilkinson counties   March 20, 2008 – Severe storms and flooding	Due dates for tax payments and filings with the original or extended deadlines falling on or after March 20, 2008, and on or before July 7, 2008 are postponed to July 7, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after March 20, 2008 and on or before April 4, 2008, assuming the deposits were made by April 4, 2008.
Missouri, including Barry, Jasper and Newton counties   May 10, 2008 – Severe storms and tornadoes	Due dates for tax payments and filings with the original or extended deadlines falling on or after May 10, 2008, and on or before July 22, 2008 are postponed to July 22, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after May 10, 2008 and on or before May 27, 2008, assuming the deposits were made by May 27, 2008.
Oklahoma, including Craig, Latimer, Ottawa and Pittsburg counties    May 10, 2008 – Severe storms, tornadoes and flooding	Due dates for tax payments and filings with the original or extended deadlines falling on or after May 10, 2008, and on or before July 14, 2008 are postponed to July 14, 2008.   Penalties will be waived for the failure to deposit employment and excise deposits due on or after May 10, 2008 and on or before May 27, 2008, assuming the deposits were made by May 27, 2008.

If you have any questions about how the disaster relief provisions may affect you or your business, please contact your M&K Tax Professional. Additional information may also be obtained by visiting the IRS website at www.irs.gov.