For clients who have not filed their 2006 tax returns...
On October 9th, the IRS announced tax relief for Texas taxpayers in the Presidential Disaster Area that was struck by Tropical Storm Erin on August 14th, 2007. All tax deadlines occurring on or after August 14th, 2007 or before December 3rd, 2007 have been postponed to December 3rd. Harris county was named as part of this disaster area, therefore all clients of Gainer, Donnelly & Desroches have been granted an additional extension to file their returns and pay taxes. All clients qualifying for the previous October 15th tax extension will now have a filing deadline of December 3. This extension also applies to contributions to retirement plans, including SEP-IRAs.
Please note that if you would like to take advantage of this extension, we must have your complete tax preparation materials by November 15. If we receive the information after that, we cannot guarantee completion by December 3.
If any affected taxpayer receives a penalty notice from the IRS, the taxpayer should call the number on the notice to have the IRS abate any interest and any late filing or late payment penalties that would otherwise apply during the period from Aug. 14, 2007, to Dec. 3, 2007 –– Aug. 14, 2007, to Aug. 29, 2007, for failure to deposit penalties. No penalty or interest will be abated for taxpayers that do not have a filing, payment or deposit due date, including an extended filing or payment due date, during this period.
Taxpayers not in the covered disaster area, but whose books, records, or tax professionals’ offices are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area are eligible for relief.
Affected taxpayers who reside or have a business located outside the covered disaster area are required to call the IRS disaster hotline at 1-866-562-5227 to self-identify for disaster relief.
For additional information, please call your tax preparer.
