IRS extends Corporate Tax filing time to Taxpayers affected by Hurricane IKE!!

TaxGuru · #1 (**permalink**) 09-15-2008, 11:35 AM

IRS provides "Taxpayers in Area Threatened by Ike Until Sept. 22 To File Corporate and Individual Estimated Taxes".

The IRS has just announced that "taxpayers and tax preparers affected in coming days by Hurricane Ike will have an extra seven days to file corporate tax returns and third-quarter estimated taxes otherwise due on Monday, Sept. 15, 2008. "

Furthermore, the IRS has stated that "because the storm is falling within one business day of the Sept. 15 due dates, taxpayers directly impacted by the storm will have until midnight Sept. 22 to meet their tax filing obligations without incurring late filing and payment penalties. The IRS is likely to further postpone that deadline and make further tax relief available following damage assessments by the Federal Emergency Management Agency."

According to the IRS, "the taxpayers should mark paper tax returns with the words Hurricane Ike, and for taxpayers who e-file their returns can use their software’s Disaster feature, if available."

nnickles66 · #2 (**permalink**) 11-04-2008, 02:20 PM

So, Tax Guru ... what if the hurricane prevented you from submitting even with he extension? Are they showing any further mercy?
Thanks.

TaxGuru · #3 (**permalink**) 11-05-2008, 12:53 PM

I do believe the IRS will accept a late extension given your dire circumstances. The IRS has announced at various times that victims of natural disasters would get a special waiver or an abatement of penalties related to late filing of both the tax returns or even late extensions. Just attach a note on the tax return that you were a "Victim of the Hurricane" that prevented you from filing a timely election for an extension!

Good luck!