United States

IRS updates the list of counties eligible for relief in Texas

TAX ALERT  | 

UPDATE: Sept. 8, 2017

On Aug. 30 and Sept. 5, the IRS updated the list of counties eligible for relief to include the following: Austin, Batrop, Colorado, DeWitt, Fayette, Gonzales, Hardin, Jasper, Jefferson, Karnes, Lavaca, Lee, Montgomery, Newton, Orange, Polk, Sabine, San Jacinto, Tyler, Walker, and Waller.

In addition to the relief discussed in our prior alert, IRS relief includes the filing of Form 5500 series returns that were required to be filed on or after Aug. 23, 2017, but before Jan. 31, 2018, in the manner described in section 8 of Rev. Proc. 2007-56. In general, Rev. Proc. 2007-56 provides a list of certain time-sensitive acts, the performance of which may be postponed due to an event such as a presidentially declared disaster. The relief described in section 17 of Rev. Proc. 2007-56, pertaining to like kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.

Unless an act is specifically listed in Rev. Proc. 2007-56, the postponement of time to file and pay does not apply to information returns in the W-2, 1094, 1095, 1097, 1098, or 1099 series; to Forms 1042-S, 3921, 3922, 8025, or 8027; or to employment and excise tax deposits. However, penalties on deposits due on or after Aug. 23, 2017, but before Sept. 7, 2017, will be abated as long as the tax deposits were made by Sept. 7, 2017.

The IRS will waive the usual fees and expedite requests for copies of previously filed tax returns for affected taxpayers. Taxpayers should put the assigned disaster designation, “Texas, Hurricane Harvey,” in red ink at the top of Form 4506, Request for Copy of Tax Return, or Form 4506-T, Request for Transcript of Tax Return, as appropriate, and submit it to the IRS.

ORIGINAL ALERT: IRS provides relief for victims of Hurricane Harvey

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