Last year, many American were affected by severe natural disasters. These natural disasters have displaced families, destroyed businesses, and have cost states like Texas and Florida immeasurable amounts.
As it turns out
The IRS has announced certain taxation relief and reporting benefits that are now available to hurricane victims. Unfortunately, the majority of people who are obligated to file returns next April are probably unaware that they exist.
Taxation Relief for Hurricane Victims
Hurricane Irma was incredibly destructive in places like the US Virgin Islands. For this reason, the government immediately issued extensions on tax filing deadlines for it residents and businesses. After Hurricane Harvey, the government did the same for residents and businesses located in Texas. It is anticipated that similar extensions will be granted to the people of Florida after Hurricane Irma.
It gets better!
These extensions are mainly targeted to businesses in the affected areas. They delay the deadlines for quarterly filings up to four months, which is important when reorganizing after a natural disaster.
As if that’s not enough
The IRS must adhere to strict government mandates, so this extension is an incredible show of solidarity and understanding. It has even provided a hotline for people seeking taxation relief to call to find more information. That free number is 866.562.5227 or 877-637-3783.
Want to know the best part?
Not all taxpayers go through terrible events like hurricanes, but they are just as interested in tax relief. Their circumstances could include past IRS debts, disputes on audits, and considerations surrounding investments like Bitcoin purchases and profits. It doesn’t take a natural disaster to create a situation where relief from IRS obligations is necessary.
What does this mean for you?
In short, many people qualify for relief who don’t realize it. Your taxation debt could be eligible for relief classification, but there is no way to discover this without professional legal help. An IRS debt burden is incredibly difficult to manage, especially when certain circumstances are present in your business environment, or your household. There are many types of relief programs available to people with IRS debts, and the only way to take advantage of them is through consultation with taxation law experts.
Here’s the deal:
If you are now recovering from disasters like Harvey and Irma, or have other hardships, taxation relief is available. Take the time to schedule a consultation with a legal team that understands the IRS programs and extensions available to taxpayers who make it through the worst troubles.
The best part:
It is free to schedule a consultation with one of our experienced tax attorneys. Call us and let us guide you and more importantly, handle the IRS for you. You deserve the peace of mind.