Thursday, September 01, 2011

Hurricane Irene Tax Relief - But Not for Long Island...YET!!!

Pursuant to the notice those taxpayers that are in qualifying areas will have certain tax filing and payment deadlines extended:

1)         Entity returns originally extended to September 15, 2011 will now be due on October 31, 2011;

2)         Individual and entity returns originally extended to October 17, 2011 will now be due on October 31, 2011; and

3)         3rd quarter individual estimated taxes originally due September 15, 2011 will now be due on October 31, 2011.

Pursuant to the notice, the relief is only extended to taxpayers located in Federally declared disaster areas.  In New York, only the counties of Albany, Delaware, Dutchess, Essex, Greene, Schenectady, Schorarie and Ulster are identified as presently qualifying.  The IRS did state that it expects to announce tax relief for taxpayers in other areas as the damage assessments continue, and has advised taxpayers to continue to monitor its website for updates.

In addition to the NY counties set forth above, the notice initially includes the following counties in North Carolina, New Jersey and Puerto Rico as qualifying for the relief:

    North Carolina:   Beaufort, Carteret, Crave, Dare, Hyde, Pamlico and Tyrell Counties

    New Jersey:        Bergen, Essex, Morris, Passaic and Somerset Counties

    Puerto Rico:        Caguas, Canovanas, Carolina, Cayey, Loiza, Luquillo and San Juan Counties

Bob, Lara and I along with our entire staff hope that the storm did not cause you any significant harm and that life is returning to normal.

Neil