September 11, 1996
IRS Grants Tax Relief
to Hurricane Fran Victims
WASHINGTON - The Internal Revenue Service is granting some
relief to taxpayers who may be unable to meet their federal tax
obligations in places that are declared disaster areas due to
Hurricane Fran and its aftermath.
Affected taxpayers whose estimated tax payments are due on
September 15 must pay by September 30, 1996, to avoid penalties.
Taxpayers with corporate, partnership or fiduciary returns due
September 15 must file by September 30.
Although the IRS cannot extend the deadline for employment or
excise tax deposits, it will abate penalties on tax deposits
required to be made during or for the period of September 4-15 if
the deposits are made by September 30. Interest charges will still
apply to payments made after the original due date.
In addition, until October 15, 1996, the IRS will suspend many
enforcement activities -- such as levies, seizures and summonses --
for taxpayers within the disaster areas. Taxpayers in disaster
areas may claim uninsured casualty losses on either amended 1995 tax
returns or their 1996 forms next year. IRS representatives will be
at FEMA Recovery Centers to help taxpayers with returns or to
expedite requests for tax account transcripts needed for
Affected taxpayers should put "HURRICANE FRAN" or similar words
at the top of any return relying on this relief.
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