IRS Extends Tax Deadlines for Storm Victims
The IRS extended tax deadlines Tuesday for individuals and businesses deluged by Hurricane Katrina.
The extension gives taxpayers until Oct. 31 to file returns and submit payments. The extension includes the Sept. 15 deadline for estimated taxes.
The Internal Revenue Service will not charge interest or late penalties that would otherwise apply.
Taxpayers in affected areas should write “Hurricane Katrina” in red ink on forms filed with the IRS.
Individuals can deduct some hurricane losses not covered by insurance by filing amended 2004 tax returns or by claiming this year’s losses when filing tax returns next spring.