Q: What are the actions that are covered by the additional 48-hour filing and payment relief?
A: The additional 48-hour filing and payment relief is granted pursuant to Internal Revenue Code (IRC) 6081 and 6161 and published in News Release 2007-89. The relief applies to the following returns and payments originally due April 17, 2007:
- Calendar-year 2006 federal individual income tax returns, whether filed electronically or on paper (Forms 1040, 1040A or 1040EZ).
- Requests for an automatic six-month tax-filing extension on an individual return for calendar-year 2006, whether submitted electronically or on Form 4868.
- Tax-year 2006 income tax balance-due payments, whether made electronically (direct debit or credit card) or by check.
- Corporation income tax returns, including S corporations (Forms 1120, 1120-A and 1120S) for a fiscal year ending on Jan. 31, 2007, and any balance due.
- Calendar-year estate and trust income tax returns (Form 1041) and any balance due.
- Calendar-year 2006 partnership returns (Form 1065).
- Annual information returns (Form 990) and unrelated business income tax returns (Form 990-T) for tax-exempt organizations with a fiscal year ending on Nov. 30, 2006.
- Calendar-year 2006 Form 990-T for certain employee trusts, retirement plans and education savings plans.
- Extension requests for any return.
Q: Are estimated tax payments included in this relief?
A: No, the additional 48-hour filing and payment relief does not apply to estimated tax payments for individuals and businesses.
Q: Are contributions to a traditional or Roth Individual Retirement Account (IRA) or a Health Savings Account (HSA) included in this relief?
A: No, the additional 48-hour filing and payment relief does not apply to contributions to traditional or Roth IRAs or an HSA as these contributions must be made by the due date for filing the return not including extensions of time to file.
Q: Does the storm relief apply to the individual tax refund claims for tax year 2003 where the regular three-year statute of limitations is expiring?
A: No. We do not have the authority to extend the statute of limitations for the filing of the refund claims or any other time sensitive acts unless there is a Presidential disaster declaration.
Q: Will interest be waived on payments made after April 17, 2007?
A: No. We do not have the authority to waive interest on any underpayment of tax due April 17, 2007, that is paid late unless there is a Presidential disaster declaration.
Q: Who is covered by this extension?
A: This relief applies to taxpayers who have been affected by the storm on April 16 leading up to the April 17, 2007, filing deadline. Affected taxpayers located outside the Northeast are covered if they are prevented from filing in a timely manner because of the storm.
Q: Why aren't specific states listed? Is my state return covered by this extension?
A: We decided not to list specific states because of the widespread nature of the storm and transportation issues that could affect people located outside the Northeastern corridor. You will need to contact your respective state tax agency regarding any filing deadline issues pertaining to your state tax return.
Q: Does this 48-hour extension apply to taxpayers who file electronically?
A: Yes. The additional 48-hour filing relief applies to returns filed either electronically or on paper.
Q: How do people make an annotation on an e-filed return?
A: Some software packages include a “disaster” feature which allows the taxpayer to self-identify that they are impacted by the storm. But returns can still be e-filed under the 48-hour extension if this option is not used or is not available.
Q:What if I cannot file my return by the extended due date?
A: If you are unable to meet the additional 48-hour deadline, you should file Form 4868, “Application for Automatic Extension of Time to File U.S. Individual Tax Return” by April 19, 2007.
Q: Do people need to attach a justification?
A: No, but they can mark the April 16 Storm designation on the top front page of their return. If you were eligible for the 48-hour extension of time to file and pay, and timely filed and paid by April 19, 2007, and you still receive a penalty notice, contact the number on the notice and explain that you were eligible for the 48-hour extension.
Q: Do people run a greater risk of IRS scrutiny if they file April 19?
A: No, returns from affected taxpayers will be treated the same as other returns.
Q: If people can file returns by April 17 should they?
A: Absolutely. The IRS announcement was designed to give people and tax professionals affected by the storm additional time if they need it. If they can file an accurate return by the 17th they should.
Q: Does the 48 hour storm relief apply to returns on six-month extensions of time to file that expire on April 17, 2007?
A: No, extensions of time to file under section 6081 are limited to six months. Thus, we do not have the authority to postpone the time for filing returns already on extension unless there is a Presidential disaster declaration.
