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IRS Gives Tax Relief To Oklahoma Tornado Victims; Return Filing and Tax Payment Deadlines Extended to Sept. 30

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Help for Disaster Victims: English | Spanish | ASL
How to Request a Copy of Your Tax Return: English | Spanish | ASL

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Disaster Assistance: English | Spanish

IR-2013-53, May 21, 2013

WASHINGTON –– After Monday’s devastating tornado in Moore and Oklahoma City,   the Internal Revenue Service today provided tax relief to individuals and businesses affected by this and other severe storms occurring in parts of Oklahoma.

Following Monday’s disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in Cleveland, Lincoln, McClain, Oklahoma and Pottawatomie counties will receive special tax relief. Other locations may be added in coming days based on additional damage assessments by FEMA.

The tax relief postpones various tax filing and payment deadlines that occurred starting on May 18, 2013. As a result, affected individuals and businesses will have until Sept. 30, 2013 to file these returns and pay any taxes due. This includes the June 17 and Sept. 16 deadlines for making estimated tax payments. A variety of business tax deadlines are also affected including the July 31 deadline for second quarter payroll and excise tax returns and the Sept. 3 deadline for truckers filing highway use tax returns.

The IRS will abate any interest, late-payment or late-filing penalty that would otherwise apply. The agency automatically provides this relief to any taxpayer located in the disaster area. Taxpayers need not contact the IRS to get this relief.

Beyond the relief provided to taxpayers in the FEMA-designated counties, the IRS will work with any taxpayer who lives outside the disaster area but whose books, records or tax professional are located in the areas affected by these storms. All workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization also qualify for relief. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227.

Individuals and businesses who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on either last year’s or this year’s return. Claiming these casualty loss deductions on either an original or amended 2012 return will get the taxpayer an earlier refund but waiting to claim them on a 2013 return could result in greater tax savings depending upon other income factors.

In addition, the IRS is waiving failure-to-deposit penalties for federal payroll and excise tax deposits normally due on or after May 18 and before June 3 if the deposits are made by June 3, 2013. Details on available relief can be found on the disaster relief page on IRS.gov.

The tax relief is part of a coordinated federal response to the damage caused by these storms and is based on local damage assessments by FEMA. For information on disaster recovery, visitdisasterassistance.gov.

The IRS is actively monitoring the situation and will provide additional relief if needed.

IRS: Summer Day Camp Expenses May Qualify for a Tax Credit

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Along with the lazy, hazy days of summer come some extra expenses, including summer day camp for working parents. But, there’s some good news. If you paid someone to care for a child or a dependent so you could work, you may be able to reduce your federal income tax by claiming the credit for child and dependent care expenses on your tax return.

This credit is available to people who, in order to work or to look for work, have to pay for childcare services for dependents under age 13. The credit is also available if you paid for the care of a spouse or a dependent, of any age, who is physically or mentally incapable of self-care.

The Child and Dependent Care Credit is available for childcare expenses incurred during the summer and throughout the rest of the year. Here are five facts to remember about this credit:

  • The cost of day camp may count as an expense toward the Child and Dependent Care Credit.
  • Expenses for overnight camps do not qualify.
  • Whether your childcare provider is a sitter at your home or a daycare facility outside the home, you may get some tax benefit if you qualify for the credit. You will need the name of the childcare provider, the address, the identification number (i.e. Social Security number or employer identification number) and the total amount paid.
  • The credit can be up to 35 percent of your qualifying expenses, depending on your income.
  • You may use up to $3,000 of the unreimbursed expenses paid in a year for one qualifying individual or $6,000 for two or more qualifying individuals to figure the credit.

 

For more information check out IRS Publication 503, Child and Dependent Care Expenses. This publication is available at www.irs.gov or by calling 800-TAX-FORM (800-829-3676).

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NOTE TO EDITOR: below are links to IRS.gov information and publications about summer day camp expenses.

Here’s a list of helpful IRS forms and publications:

Publication 501, Exemptions, Standard Deduction, and Filing Information

Publication 503, Child and Dependent Care Expenses

Publication 926, Household Employer’s Tax Guide Form (and Instructions)

Form 2441, Child and Dependent Care Expenses

Form 1040, Schedule H Household Employment Taxes

Form W-10 Dependent Care Provider’s Identification and Certification

 

YouTube Videos:

Summer Day Camp Expenses – English | Spanish | ASL

IRS Announces Three-Month Filing, Payment Extension Following Boston Marathon Explosions

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IR-2013-43, April 16, 2013

WASHINGTON — The Internal Revenue Service today announced a three-month tax filing and payment extension to Boston area taxpayers and others affected by Monday’s explosions.

This relief applies to all individual taxpayers who live in Suffolk County, Mass., including the city of Boston. It also includes victims, their families, first responders, others impacted by this tragedy who live outside Suffolk County and taxpayers whose tax preparers were adversely affected.

“Our hearts go out to the people affected by this tragic event,” said IRS Acting Commissioner Steven T. Miller. “We want victims and others affected by this terrible tragedy to have the time they need to finish their individual tax returns.”

Under the relief announced today, the IRS will issue a notice giving eligible taxpayers until July 15, 2013, to file their 2012 returns and pay any taxes normally due April 15. No filing and payment penalties will be due as long as returns are filed and payments are made by July 15, 2013. By law, interest, currently at the annual rate of 3 percent compounded daily, will still apply to any payments made after the April deadline.

The IRS will automatically provide this extension to anyone living in Suffolk County. If you live in Suffolk County, no further action is necessary by taxpayers to obtain this relief. However, eligible taxpayers living outside Suffolk County can claim this relief by calling 1-866-562-5227 starting Tuesday, April 23, and identifying themselves to the IRS before filing a return or making a payment. Eligible taxpayers who receive penalty notices from the IRS can also call this number to have these penalties abated.

Eligible taxpayers who need more time to file their returns may receive an additional extension to Oct. 15, 2013, by filing Form 4868 by July 15, 2013.

Taxpayers with questions unrelated to the Boston tragedy should visit IRS.gov, or contact the regular IRS toll-free number at 1-800-829-1040.

Tax Deadline is HERE! Limited Office Hours Today

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We will be open for tax return pick up and extension filing today 9:00 am – 6:00 pm.  Tax returns and extension payments MUST be postmarked today to avoid late filing penalties.

Lines at the post office for last minute filers will most likely be lengthy so come in early!