ROCKFORD, Ill. -- Tax relief for Illinois taxpayers affected by the August 20-31 storms has been announced by the Internal Revenue Service (IRS) for people in the declared disaster area in DeKalb, Grundy, Kane, Lake, LaSalle, and Will counties, said the Federal Emergency Management Agency (FEMA) and Illinois Emergency Management Agency (IEMA).
Deadlines for affected taxpayers to file returns, pay taxes and perform other time-sensitive acts that occured between the dates of Aug. 20, 2007 and Nov. 26, 2007, have been postponed to Nov. 26, 2007, the IRS said.
In addition, the IRS will waive the failure to deposit penalty for employment and excise deposits due between Aug. 20, 2007, and Sept. 4, 2007, as long as the deposits were made by Sept. 4, 2007.
If any affected taxpayer receives a penalty notice from the IRS, the taxpayer should call the number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply during the period from Aug. 20, 2007, to Nov. 26, 2007 or Aug. 20, 2007, to Sept.4, 2007, for failure to deposit penalties. No penalty or interest will be abated for taxpayers that do not have a filing, payment or deposit due date, including an extended filing or payment due date, during this period, the IRS said.
IRS computer systems automatically identify taxpayers located in the covered six county disaster area and apply automatic filing and payment relief. Taxpayers within the covered disaster area do not need to self-identify by writing on their returns or using the disaster designation in their tax software.
Affected taxpayers who reside or have a business located outside the covered disaster area are required to call the IRS disaster hotline at 1-866-562-5227 to self-identify for disaster relief. For more information visit http://www.irs.gov/newsroom/article/0,,id=174523,00.html.
FEMA coordinates the federal government’s role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.