IRS Tax Help for Sandy Victims

Last updated on November 12, 2012

The IRS is providing tax relief to taxpayers who have been affected by Hurricane Sandy. The IRS has been providing tax relief to victims of hurricanes and other natural calamities over the years. This time, it has extended the time to file taxes to Feb 1, 2013 for those who fall under the Presidential Disaster Areas. After a thorough assessment of the areas where damage has been done by Sandy, other areas may also be included for tax relief.

Individuals and businesses in New Jersey, New York and Connecticut can now file taxes till February 1, 2013. Taxpayers automatically get this tax relief in areas that have been declared disaster areas. There will be no penalty for paying taxes till Feb 1, 2013. Those taxpayers who were affected by Sandy, but do not come in the Presidential Disaster Areas also get extension for which they will need to contact the IRS.

Those who are helping victims of Sandy also get tax relief. The IRS is giving tax credits to owners of qualified low-income housing who have provided shelter to victims of Sandy. Employees of a company, if the company has such a program, get employer cash payment in exchange of a leave, vacation, sick time etc. They can donate the cash payment to a tax-exempt organization that is helping victims of Sandy.

Any volunteer who is working with an IRS-recognized organization that is helping Sandy victims are eligible for Feb 1 extension to file taxes. Those taxpayers who want to get tax benefit for cash donations may donate to an organization that falls under 501(c)3 charity. For latest updates on tax relief provided by the IRS, taxpayers may check their website.