February 25, 2002
New IRS Publication Details Tax Relief for
Victims of Terrorist Attacks
WASHINGTON - The Internal Revenue Service has issued Publication 3920, explaining how to file claims under the Victims of Terrorism Tax Relief Act of 2001. The new booklet is available now through the IRS Web site www.irs.gov and printed copies may be ordered in a few weeks by calling 1-800-TAX-FORM (1-800-829-3676).
Under this law, the federal income tax liability of those killed in terrorist attacks within the United States is erased for at least two years. It applies to victims of the September 11th and anthrax attacks last year, as well as the April 1995 Oklahoma City bombing. The law also exempts from tax certain payments received by the survivors of those killed and disability payments received by those injured in the attacks.
Our new publication gives affected taxpayers the details they need to claim the tax relief the law provides, said IRS Commissioner Charles O. Rossotti. If they have further questions, we´ll be here to help them.
The publication Tax Relief for Victims of Terrorist Attacks -- has worksheets to figure the amount of tax forgiven, including one for married persons who filed jointly. Another worksheet helps taxpayers get the law´s minimum tax relief amount of $10,000. There are details on required documentation and where to send returns claiming the relief.
Publication 3920 also explains what types of disaster relief payments would be tax-exempt, which taxpayers would qualify for tax deadline postponements granted by the IRS, and estate tax reduction available for victims´ estates under the law.
Surviving spouses or executors of the Sept. 11 or anthrax victims may file original or amended tax returns for 2000 at any time until April 15, 2004, and may claim the tax relief for 2001 when they file the decedent´s return. Survivors or executors of those killed in Oklahoma City must file any returns claiming this tax relief not later than Jan. 22, 2003.
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