Tax News

CCH (cch.taxgroup.com) reports:

  The IRS has extended return filing and payment deadlines for victims of Hurricane Ike in the Louisiana parishes of Acadia, Beauregard, Calcasieu, Cameron, Iberia, Jefferson, Jefferson Davis, Lafourche, Plaquemines, Sabine, St. Mary, Terrebonne, Vermilion and Vernon. Taxpayers residing or having businesses in these presidentially declared disaster areas have until January 5, 2009, to file returns, pay taxes and perform other time-sensitive acts otherwise due on or after September 11, 2008, and before January 5, 2009. The extension includes individual estimated tax returns and corporate tax returns that were due on September 15 and extended individual returns due on October 15. The postponement of time to file an pay does not apply, however to information returns in the Form W-2, 1098, 1099 series or to Forms 1042-S or 8027.

  The IRS will waive the failure to deposit penalties for employment and excise deposits due on or after September 11, 2008, and before September 26, 2008, as long as the deposits are made on or before September 26, 2008. This includes failure to deposit penalties on employment and excise deposits that were waived under previous relief granted due to Hurricane Gustav. Taxpayers whose books, records or tax professionals' offices are in the covered disaster area are also entitled to relief. In addition, all relief workers affiliated with a recognized government or charitable organization assisting the relief activities in the covered disaster area are eligible for relief. Affected taxpayers claiming a disaster loss due to Ike on their returns for the 2007 tax years should write, "Louisiana/Hurricane Ike" at the top of their returns to receive expedited service.

IR-2008-108,
2008FED ¶46,575

IR-2008-108, ETR ¶66,861

IR-2008-108,
FINH ¶30,601

Other References:

 
Code Sec. 6081

  CCH Reference - 2008FED ¶36,789.213

  CCH Reference - ETR ¶39,845.15

  CCH Reference - FINH ¶20,345.65

  CCH Reference - FINH ¶20,355.45

 
Code Sec. 6161

  CCH Reference - ETR ¶43,235.15

  CCH Reference - FINH ¶20,585.35

 
Code Sec. 6656

  CCH Reference - ETR ¶51,475.88

 
Code Sec. 7508A

  CCH Reference - 2008FED ¶42,687C.22

  CCH Reference - ETR ¶57,495.25

  CCH Reference - FINH ¶22,560.30

  Tax Research Consultant

  CCH Reference - TRC FILEIND: 15,204.25
CCH Reference - TRC FILEBUS: 15,110