Colorado Disaster Relief from the IRS - Publication 2194 - John R. Dundon II, Enrolled Agent
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Colorado Disaster Relief from the IRS – Publication 2194

Colorado Disaster Relief from the IRS – Publication 2194

If you have been impacted by a disaster in your area like many of my friends most recently here in Colorado due to flooding as defined by FEMA and identified by our President causing you to be unable to meet your tax obligations the IRS may be able to assist you with payment and filing extensions, and if qualified, even with an expedited tax refund for casualty losses. President Obama last month declared the counties in Colorado Federal Disaster Areas:

  1. Adams
  2. Arapahoe
  3. Boulder
  4. Clear Creek
  5. Crowley
  6. Denver
  7. El Paso
  8. Fremont
  9. Gilpin
  10. Jefferson
  11. Lake
  12. Larimer
  13. Lincoln
  14. Logan
  15. Morgan
  16. Sedgwick
  17. Washington  
  18. Weld

If you reside or have a business in these counties may qualify for tax relief as the President’s declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area.

Specifically you need to know that deadlines falling on or after Sept. 11, and on or before December 2, 2013, have been postponed to December 2, 2013. This includes the quarterly estimated tax payment that was due on September 16. It also includes the due date of September 16 for calendar year corporations and partnerships that received extensions of time to file.

The IRS is also waiving the failure-to-deposit penalties for employment and excise tax deposits due on or after September 11, and on or before September 26, as long as the deposits are made by September 26, 2013.

If you are affected and receive a penalty notice from the IRS, call the telephone number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply. Penalties or interest will be abated only for taxpayers who have an original or extended filing, payment or deposit due date, including an extended filing or payment due date, that falls within the postponement period.

The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.

The counties listed above constitute a covered disaster area for purposes of Treas. Reg. § 301.7508A-1(d)(2) and are entitled to relief. Further instructions can be found here or via IRS Publication 2194