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The Internal Revenue Service has announced special tax relief for Louisiana taxpayers in the Presidential Disaster Area that was struck by severe storms and tornadoes February 12-13, 2007.
The disaster area consists of three parishes: Jefferson, Orleans and St. Martin.
Deadlines for affected taxpayers to file returns, pay taxes and perform other time-sensitive acts falling on or after February 12, 2007 and on or before April 24, 2007 have been postponed to April 24, 2007.
IRS computer systems now automatically identify taxpayers located in the covered disaster area and apply automatic filing and payment relief. Taxpayers within the covered disaster area no longer need to self-identify by writing on their returns or using the disaster designation in their tax software.
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 February 12, 2007, and on or before February 27, 2007, provided the taxpayer make these deposits by February 27, 2007.
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