The IRS provides disaster relief

 

In the aftermath of a disaster, implementation of established plans can help you get back to your daily routine. Still, no matter how prepared you are, some things — such as tax deadlines — can be overlooked during the recovery period. What happens if you discover you've forgotten to file a return or make a deposit?

Here are examples of tax relief available when you or your business are affected by a federally declared disaster.

• Postponed deadlines. Deadlines for personal and business returns, as well as tax deposits, can be postponed for up to a year. The length of the postponement for each disaster area is determined by the IRS, so you'll want to verify how much additional time you have.

• Penalty abatement. Penalties for failing to file certain returns or make required deposits are waived during the postponement period. The waiver is generally automatic and may also apply to interest.

• Prioritized processing. You have the option of amending last year's return to claim losses from a current year disaster. Amended returns flagged with applicable "disaster designations" are typically expedited so you get a refund quickly.

Were prior year returns lost in the disaster? Requests for replacements are expedited and the usual fees are waived.
Please call us at (949) 453-1521 for more information, and remember you don't have to navigate disaster-related tax matters on your own. We're here to help. $$