Interest abatement in federally declared disaster areas. For individuals located in an area declared a disaster area by the President after 1997, the IRS will abate interest on income tax for the length of any extension granted for filing income tax returns and paying income tax for 1997 and 1998 tax years.

For other taxpayers located in an area declared a disaster area by the President after 1997, the IRS will abate interest on income tax for the length of any extension granted for filing income tax returns and paying income tax for tax years beginning after 1997. See Disaster area loss under When To Report, later.

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