On its website, the IRS announced relief for taxpayers in Harris, Hayes, and Van Zandt who were affected by the severe storms, tornadoes, straight-line winds, and flooding that took place in Texas beginning on May 4, 2015.
This means affected taxpayers are eligible for an extension of time to perform time sensitive tasks such as filing and paying taxes. Some of the qualifications include:
- Taxpayers whose principal residence, or business entity whose principal place of business is located in the counties mentioned above
- Individuals who are relief workers assisting with the disaster area
Launch Consulting, Inc. sends its deepest gratitude to clients and their friends and families impacted by the flooding caused by adverse weather in the Austin area.
For more information on additional taxpayers who may be eligible for relief, please visit the IRS website.
For questions on the tax implications of losses please contact Paul Glantz, CPA at paul@launchconsultinginc.com