The IRS is providing tax relief to victims of Hurricane Gustav!
The IRS has announced some tax relief for victims of the Hurrican Gustav which involve "postponing until Jan. 5, 2009 deadlines for taxpayers who reside or have a business in the disaster area."
According to the IRS, "the postponement applies to return filing, tax payment and other time-sensitive acts otherwise due between Sept. 1, 2008 and Jan. 5, 2009." These include the following:
1. Individual estimated tax payments due Sept. 15, 2008.
2. Corporate extended 1120 tax returns due Sept. 15, 2008.
3. Individual extended 1040 tax returns due Oct. 15, 2008.
Furthermore, "the IRS will waive the failure to deposit penalties for employment and excise deposits due on or after Sept. 1, 2008 and on or before Sept. 16, 2008 as long as the deposits are made by Sept. 16, 2008."