IRS Gives Additional Time to Taxpayers and Preparers Affected by Hurricane Sandy

The Internal Revenue Service today announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until Nov. 7 to file returns and accompanying payments normally due today.  

The relief applies to taxpayers and tax preparers in an area affected by Hurricane Sandy or otherwise
impacted by the storm that hit the Mid-Atlantic and Northeastern
United States this week.

This relief primarily applies to businesses whose
payroll and excise tax returns and payments are normally due today. No action
is required by the taxpayer; this relief is automatic. Regular federal tax
deposits are due according to current rules. However, the IRS notes that if
taxpayers or tax practitioners receive a penalty notice for this period, they
can contact the IRS at the number on the notice to request penalty abatement
due to reasonable cause on account of the storm.

IRS expects to grant additional filing and payment
relief as qualifying disaster declarations are issued by the Federal Emergency
Management Agency (FEMA). Details will be posted on the Tax Relief in Disaster
Situations page on IRS.gov.