IRS grants tax relief to Oahu flood victims
The Internal Revenue Service says victims of storms and flooding on O'ahu last month may qualify for federal tax relief.
President Bush on Jan. 5 declared the City and County of Honolulu a disaster area, clearing the way for federal assistance.
As a result, the IRS is postponing until Feb. 9 certain deadlines for taxpayers who reside or have a business in the disaster area. The postponement applies to return filing, tax payment and certain other time-sensitive acts otherwise due between Dec. 10, 2008, and Feb. 9, 2009.
In addition, the IRS will waive the failure to deposit penalties for employment and excise deposits due on or after Dec. 10, 2008, and on or before Dec. 29, 2008, as long as the deposits were made by Dec. 29, 2008.
IRS computer systems automatically identify taxpayers located in the covered disaster area and apply automatic filing and payment relief. Affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request tax relief