News Flash: Even IRS Playing Nice

Monday Dec 10th 2001 by SmallBusinessComputing Staff
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Feds offer extensions and assistance to troubled small businesses

Tax time is a hectic time for any business - especially those directly affected by the terrorist attacks in September. The IRS has announced that it is offering extensions and other assistance to individuals and businesses unable to meet federal tax obligations because of the September 11 terrorist attacks in New York, Washington, D.C., and Pennsylvania.

Businesses physically located within a disaster area qualify for the filing and payment extensions. Relief workers, families of victims on airplanes, and all taxpayers who reside in the five boroughs of New York City and in Arlington County, Va., are also eligible.

Qualifying businesses with original return deadlines between September 11 and November 30, 2001, are allowed an additional six months and 120 days to file tax returns and make payments. In addition, the IRS extended estimated tax payment deadlines until January 15, 2002, for individuals and businesses with estimated tax payments due on or after September 17, 2001.

The IRS also announced that it will suspend enforcement activities such as levies, seizures, and summonses for businesses affected by the tragedies for a period of six months.

Businesses that have questions about extensions and other tax-relief initiatives can e-mail the IRS at corp.disaster.relief@irs.gov.

For more information, visit www.irs.gov/relief/business.html or call the IRS disaster-relief toll-free number at 866-562-5227.

--William Gillis

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