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IRS Announces Relief for Colorado Taxpayers

The IRS announced relief measures for Colorado taxpayers impacted by the floods, landslides and mudslides that began on September 11, 2013.  This is in wake of the President’s declaration of Adams, Boulder, Larimer and Weld counties as a federal disaster area.

For taxpayers who reside and/or operate a business in these four counties, the IRS has extended all filing deadlines falling on or after September 11th, to Monday, December 2nd.  This includes the September 16th deadline for filing calendar year corporate, partnership and fiduciary income tax returns that had previously been extended, as well as the quarterly estimated tax payments that would otherwise have been due from both individual and business taxpayers.

Individual taxpayers who had previously extended the filing deadline for their personal income tax return to October 15th, now have until Monday, December 2nd to file their tax return.

Taxpayers in a federally declared disaster area have the option of claiming disaster-related losses on their 2012 income tax returns, which can result in expedited income tax refunds and badly needed capital.  We will analyze the potential income tax savings and prepare the amended tax returns free of charge for all of our clients impacted by this disaster.  Just let us know how we can help.

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This is a series of videos mostly covering the new tax reform law and Quickbooks Online.

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