Quantcast Extended Extension For Some <nobr>ne Storm</nobr> Victims
Search by tag or site Login to my blog ? Start my own blog














TheMoneyBlogs
Home
About
Create your own blog
Contact us
Vote for this blog!

Don't Mess With Taxes

Taxes. Sure you hate 'em, but you're stuck with 'em. Either that, or you're stuck in a federal jail cell. We'll make your tax tasks less, well, taxing, and help cure your personal finance ills with regular dosesof money news, notices, tips, commentary, insight and humor, courtesy of Texas journalist Kay Bell.

Extended Extension For Some ne Storm Victims

Posted on 04/27/2007 03:54:49 | Link | Post Comment

Today, April 26, at midnight is the deadline for many northeastern taxpayers who suffered through the severe storms and flooding on April 14 through 18.

However, some taxpayers in the hardest hit areas are getting even more time.

The The IRS announced today that New York state taxpayers in Orange, Rockland and Westchester counties, and New Jersey filers in Bergen, Burlington, Essex, Passaic, Somerset and Union counties now have until June 25 to complete their returns and pay their taxes.

The IRS says that its computer systems will automatically identify taxpayers located in the covered disaster area and will apply filing and payment relief to the affected filers. That means you don't have to write &quot;April Storm&quot; on your returns or use the disaster designation in your tax software.

I don't know if you're a worrier like me, but if I was in upstate NY or suburban NJ, I'd probably go for the redundancy notification just to be sure.

Worse damage, but added filing options: This latest IRS extended filing extension comes on the heels of several northeastern locales being declared presidential disaster areas.

They include several counties in Maine, as well as the New York and New Jersey, counties cited separately in the IRS extended-filing announcement. (Don't be surprised if the IRS soon adds Maine filers in the disaster areas to the June extension list, too.)

If you're in one of these major disaster areas, my sympathies. Been there, done that with hurricanes and it truly sux.

But at least in these cases, you have the option of claiming disaster-related casualty losses on either your current or prior year's federal tax return.

You have to evaluate both situations to see which will get you the most tax cash back. A bit of extra work, but for more money when you're dealing with damaged property, it's generally worth the trouble. This story has information on the tax considerations and filing steps you need to take.

Here's wishing you good luck, a big refund and rapid recovery from Mother Nature's wrath.

Stock Quote or
Examples
ATM Wallstreet - Tue Oct 07, 2008 10:07PM
Today we have the Fed speaking and release of Fed mi [read more]
Morpheus Trading - Tue Oct 07, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them [read more]
Morpheus Trading - Fri Oct 10, 2008 01:40AM
NOTE: Please click on the charts below to enlarge them if [read more]

PREMIER SPONSORED LINKS

Most Visited Blogs | Most Popular Blogs | Most Recent Blogs | Contact Us | Terms and conditions | Privacy Policy

The columns, articles, message board posts and any other features provided on TheMoneyBlogs.com are provided for personal finance, education and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of TheMoneyBlogs.com and there is no implied endorsement by TheMoneyBlogs.com of any advice or trading strategy. The analysts and employees or affiliates of TheMoneyBlogs.com may hold positions in the stocks or industries discussed here. Your use of this and all information contained on TheMoneyBlogs.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

Copyright © 2008 The Connors Group, Inc.