The Internal Revenue Service has announced that they will provide tax relief to individuals and businesses in Louisiana and Mississippi who were affected by Hurricane Isaac.
Eligible individuals, located in select sections of the two states most impacted by Isaac, will receive tax relief in the form of a tax filing and payment extension. Tax filing and payment deadlines that occurred on or after August 26, 2012 will be pushed back to January 11, 2013—thus, affected individuals will have until then to file and pay any taxes owed. In addition, the IRS will abate interest or late penalties that would otherwise apply.
The tax relief includes companies and businesses that have previously obtained an extension until September 17, 2012 or October 15, 2012, as well as estimated tax payments for the third quarter of 2012 which are commonly due on September 17.
Other locations may also be offered relief based on additional damage assessments by FEMA in the coming weeks.Follow @USTaxShield