IRS Gives Tax Relief to Hurricane Victims

WASHINGTON - Internal Revenue Service today granted relief to taxpayers in the Florida counties of Dade, Broward and Monroe and the Louisiana parish of Terre Bonne who are unable to meet their federal tax obligations because of Hurricane Andrew.

According to the IRS, these taxpayers have until December 15, 1992 to file any federal income tax return or pay any federal tax that would have been due on or after August 24, 1992 and before December 15, 1992. Under regulations, no extension of time is available for deposits of withheld income taxes, social security taxes, or excise taxes. However, if a taxpayer in the disaster area was unable to timely make any remaining deposits due for the third quarter payroll or excise taxes, the FTD penalty for late deposits will be abated if undepositied taxes are deposited no later than October 15, 1992. Affected taxpayers should write "ANDREW" on any return that relies on this relief.

The IRS will also suspend for 30 days normal collection and examination actions for affected taxpayers in the area. No new examinations will be started and taxpayers currently being examined will be given additional time to respond to any requests for information. Those that receive notices that may already be in the mail should contact the IRS to obtain more time.

The IRS said that a Notice containing additional technical guidance will be issued shortly.

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