TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Saturday, September 3, 2005

IRS Expands Tax Relief for Victims of Hurricane Katrina

Irs_logo_125Katrina_image_clearThe IRS yesterday provided additional tax relief to the victims of Hurricane Katrina:

IR-2005-92: Treasury and IRS Expand Availability of Housing for Hurricane Victims:

The Treasury Department and the IRS today announced that they will waive rules that prohibit owners of low-income housing from providing housing to victims of Hurricane Katrina who do not qualify as low-income. The action will expand the availability of housing for disaster victims and their families. Because of the widespread devastation to housing caused by Hurricane Katrina, the Treasury Department and the IRS will temporarily suspend income limitation requirements and non-transient requirements for qualified low-income housing projects located anywhere in the United States.

  • IR-2005-91: IRS Expands Relief Area for Katrina Victims:

The IRS today expanded tax relief to victims of Hurricane Katrina in areas of Louisiana, Mississippi, Alabama and Florida eligible for public assistance. On Tuesday, the IRS gave taxpayers unable to meet their tax obligations in 31 Louisiana parishes, 15 Mississippi counties and 3 Alabama counties generally until Oct. 31 to file tax returns and make payments. The IRS will abate interest and any late filing or late payment penalties that would otherwise apply. This relief includes the Sept. 15 due date for estimated taxes and for calendar-year corporate returns with automatic extensions. Today’s announcement expands the relief to cover an additional 33 parishes in Louisiana, 37 counties in Mississippi, three counties in Alabama and three counties in Florida...For the hardest-hit areas, the IRS anticipates extending these deadlines even further in the near future. In addition to taxpayers who reside in the disaster area, the IRS will work with any taxpayer who resides elsewhere but whose books, records or tax practitioner is located in the relief area.

  • IR-2005-90: IRS Grants Relief Regarding Certain Employee Plan Contributions:

The IRS, the Department of Labor's Employee Benefits Security Administration and the Pension Benefit Guaranty Corporation officials announced today their agencies are providing relief in connection with certain employee benefit plans because of damage in the Gulf Coast area caused by Hurricane Katrina. Notice 2005-60 provides relief for certain employee benefit plans in the affected parishes and counties declared disaster areas because of Hurricane Katrina. These plans will have until Oct. 31, 2005, to make minimum funding contributions, or apply for waivers, if the deadline for such actions was from Aug. 29, 2005 through Oct. 30, 2005.

  • IR-2005-89: IRS Waives Diesel Fuel Penalty Due to Hurricane Katrina:

The IRS, in response to shortages of clear diesel fuel caused by Hurricane Katrina, will not impose a tax penalty when dyed diesel fuel is sold for use or used on the highway.

These measures are on top of the prior IRS's actions concerning taxpayers affected by Hurricane Katrina, blogged previously on TaxProf Blog:

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