Tax relief for Kentucky tornado and storm victims - Kentucky

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The Internal Revenue Service has announced special tax relief for Kentucky taxpayers in the Presidential Disaster Area that was struck by tornadoes and severe storms on November 15, 2005. The disaster area consists of two counties: Hopkins and Marshall. Affected taxpayers will need to identify themselves to the IRS as victims by writing "Tornadoes - KY" in red ink at the top of their tax forms or any other documents filed with the IRS.

The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 or 5498 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause.

Likewise, the postponement does not apply to employment and excise tax deposits. The IRS, however, will abate penalties for failure to make timely employment and excise deposits, due on or after November 15, 2005, and on or before November 30, 2005, provided the taxpayer made these deposits by November 30, 2005.

Eligible taxpayers include individuals who live, and businesses whose principal place of business is located, in the covered disaster area. Taxpayers not in the covered disaster area, but whose books, records, or tax professionals' offices are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area are eligible for relief.

...back to 8 December 2005

Further information:
IRS Grants Tax Relief for Kentucky Tornado, Storm Victims

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