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Hurricane Sandy Federal and State Updates


Please check this page often as this information is frequently updated for Hurricane Sandy

Certain taxpayers affected by Hurricane Sandy have additional time to file tax returns and make payment to Federal and certain state taxing jurisdictions. The federal government declared all or various portions of states, from Virginia to Massachusetts, federal disaster areas.  Accordingly, in an effort to assist our clients and prospects with staying up to date about federal and state tax filing and payment relief related to Hurricane Sandy, CohnReznick is providing updates that the firm is aware of below:

While the federal disaster area encompasses all or portions of the following states, to date, only the IRS, Connecticut, New York and Virginia have published guidelines addressing tax relief provided to taxpayers affected by Hurricane Sandy:

  • Delaware
  • Maryland
  • Massachusetts
  • New Jersey
  • New York and New York City
  • New Hampshire
  • Pennsylvania
  • Rhode Island
  • Virginia
  • Washington, D.C.
  • West Virginia


Federal Tax Filings:

The IRS is giving taxpayers and tax preparers affected by Hurricane Sandy an extra week to file federal returns and make federal payments.  The IRS stated that it will provide relief to taxpayers impacted by the Storm whose payroll and excise tax returns and payments are normally due on Wednesday, October 31, 2012. The deadline will be extended to November 7, 2012. No action is required by the taxpayer to obtain the extension.

Connecticut:

The Connecticut Department of Revenue Services (“Department”) extended the deadline for any state tax filings and payments due the week of October 30, 2012 to November 7, 2012. The Department also waived commercial tax registration for any out-of-state suppliers entering the state to provide relief support. The deadlines extended include:

  • Monthly and quarterly sales and use tax
  • Income tax withholding
  • Alcohol and admissions tax
  • Various gross earnings taxes


For more information, please click here .

Governor Malloy also signed a number of executive orders, extending the due date for certain filings that were normally due by November 1 to November 15, 2012 as follows:

  • Executive Order 23 extends the deadline for employers to file unemployment tax filings and payments.
  • Executive Order 24 extends the deadline for filing personal property tax declarations.
  • Executive Order 25 extends the deadline for filing certain property tax exemption applications.
  • Executive Order 26 extends the property tax deadline for those Connecticut residents who pay property taxes on a quarterly basis.

 

New Jersey:

Governor Chris Christie announced that New Jersey will be extending certain tax filing and payment deadlines for businesses to November 7, 2012 for the following taxpayers:

  • Businesses located in New Jersey
  • Out-of-state businesses with operations in New Jersey
  • Businesses whose tax records are located in New Jersey


Filings and payments covered by the state extension include:

  • Form NJ-927, Employer’s Quarterly Report
  • Form DSF-100, Domestic Security Fee Quarterly Return
  • Form TMF-10, Transporter of Motor Fuels Report


Taxpayers that qualify for extended tax filing and payment due dates are also eligible for an abatement of interest and penalties that would otherwise accrue for the period of the postponement.

For more information, please click here.


New York:

The New York State Department of Taxation and Finance postponed a number of filing and payment deadlines until November 14, 2012, including any of the following deadlines that fall between October 26 and November 14:

  • Filing any tax return or extension;
  • Paying any tax, with the following exceptions:
    • Installment payments of any tax
    • Withheld income tax payable by employers using Form NYS-1, Return of Tax Withheld
    • Withholding tax or MCTMT payable through the NYS PrompTax System
  • Filing for redetermination of deficiency or application for review;
  • Filing protective claims, including the MCTMT protective claim originally due November 2;
  • Assessing tax, collecting tax through any means, or bringing suit by the State to collect tax; and
  • Any other act required or permitted under the New York Tax Law or specified in the New York State Tax Regulations.


Taxpayers eligible for the deadline extension must be directly affected by the storm. This includes victims who reside or have their principal place of business in New York State and all relief workers in the designated area. This also includes taxpayers whose tax practitioners are located in the affected area and are unable to meet the deadlines due to the storm’s impact.

This relief is available without application or extension. Instructions will be made available on the NYS Department of Taxation website for e-filers or Web filers. Paper filers should write “Hurricane Sandy” on the top center of the front page of any late filed document or return, along with a brief description of the circumstances that trigger eligibility for the relief.

For more information, please click here.

Pennsylvania:

The Pennsylvania Department of Revenue indicated that it will follow the federal guidelines, extending the deadline, until November 7, 2012, for any state tax filings and payments due through October 31, 2012.. The deadlines extended include:

  • Filing any tax return or extension
  • Inheritance tax
  • Income tax withholding
  • Motor carrier road tax/IFTA tax filings
  • Payments with due dates between October 29 and October 31
  • Unemployment compensation tax filings for third quarter 2012


For more information, please click here.

No special action or notice is required by the taxpayer, as the deadline extensions will automatically be honored.

Virginia:

The Virginia Department of Taxation announced that it is providing  penalty waivers for taxpayers affected by Hurricane Sandy for late returns filed between October 29 and November 9, 2012. To qualify for the waiver, taxpayers must be unable to meet their filing obligations because the records they need are unavailable because of hurricane damage or power outage.

The penalty waiver applies to the following returns:

  • Individual and fiduciary tax returns with a due date or extended due date of November 1, 2012. For returns with an original due date of November 1, taxpayers may use the automatic six-month extension. However, if the automatic extension is used, there is no hurricane extension for the required 90% payment of tax that accompanies the extension.
  • Withholding returns with a due date of October 30;
  • Certain agricultural tax returns with a due date of October 30 or 31; and
  • Any other tax administered by the Department due between October 29 and November 9.


To receive the waiver, taxpayers must write “Hurricane Sandy” at the top of their returns. Affected electronic funds transfer (EFT) filers should contact the Department at 804-367-8037 if they receive penalty notices.

For more information, please click here.

We expect other states in the area impacted by Hurricane Sandy to issue guidance as circumstances permit. Please visit our State and Local Tax webpage and contact Patrick Duffany, State and Local Tax Partner, or your CohnReznick client service professional for additional guidance.

To ensure compliance with the requirements imposed by the IRS, please be informed that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

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