The Internal Revenue System has announced tax relief for victims of Hurricane Harvey in Texas. The storm hit Texas on August 25, 2017 with many still recovering from damages left from hurricane. For those affected by the storm needing to file or make payments for 2017 returns have until January 31st, 2018. This includes an additional filing extension for taxpayers with valid extensions through October 16th and businesses through September 15th. The counties eligible for tax relief include Aransas, Bee, Brazoria, Calhoun, Chambers, Fort Bend, Galveston, Goliad, Harris, Jackson, Kleberg, Liberty, Matagorda, Nueces, Refugio, San Patricio, Victoria and Wharton.
Affected taxpayers in a federally declared disaster area have the option to claim disaster-related casualty losses on their income tax returns for year event occurred. Also you can deduct personal property losses that were not covered by insurance or other type of reimbursements.
Tax Relief Grant
The IRS automatically provides filing and penalty relief to any taxpayer with an address located in the disaster area. You do not need to call the IRS for this relief. If you receive a late filing or late payment notice call the IRS to inform you were entitled to relief. Returns and payments originally due during this period including quarterly tax payments will now be due until January 31st. Relief will also include a waiver of late deposit penalties for federal payroll and excise tax deposits normally due on October 31, 2017.
Other Relief
The IRS will waive fees and expedite requests for copies of previously filed tax returns for those affected. When making a request taxpayers place assigned disaster designation “Texas, Hurricane Harvey” in red ink at top of Form 4506. Affected taxpayers contacted by the IRS on a collection or examination matter must explain to the IRS how the disaster impacted you. The IRS will take that into consideration when accessing your case.
For information on disaster recovery visit disasterassistance.gov. and for government-wide efforts related to Hurricane Harvey visit www.usa.gov/hurricane-harvey.