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The TurboTax Blog > Archive by tag 'tax relief'

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Tax Planning

Tax Relief for Mississippi and Texas Storm Victims

May 13, 2016 / TurboTaxBlogTeam
Young family of five enjoying time -hugging together outside neaFollowing the multiple disasters in Mississippi over the last year, and recent floods in the Houston, Texas, the Federal Management Agency (FEMA) has declared these disaster areas. As a result, IRS is providing tax relief to victims in these areas, including:...

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Tax News

IRS Update: Tax Guidance Related to Ebola Outbreak

October 31, 2014 / TurboTaxBlogTeam
Flying between layers of cloudsThis week the IRS issued two types of guidance for taxpayers, responding to the need for charitable donations and other relief efforts due to the Ebola outbreak in Guinea, Liberia and Sierra Leone. The first provides special relief intended to...

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Tax News

IRS Announcement: Tax Relief for Victims of Colorado Storms

September 16, 2013 / TurboTaxLisa
iStock_000012617143XSmallAfter a week of severe rain storms followed by heavy flooding in Colorado, the IRS announced today that it is providing tax relief to individuals and businesses impacted by the storms. The tax relief will postpone tax filing and payment...

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Tax News

IRS Offers Penalty Relief to Storm Victims Unable to File by the Tax Deadline

April 17, 2013 / TurboTaxLisa
Tornados, high winds, and baseball-sized hail wreaked havoc on the South and Midwest last week and over the weekend.  As a result, there were power outages and transportation issues, making it difficult for some taxpayers and tax professionals to meet...

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Tax News

IRS Announces Extension Deadline for Businesses Impacted by Hurricane Sandy

October 31, 2012 / TurboTaxLisa
In the aftermath of Hurricane Sandy, the president signed disaster declarations for taxpayers impacted by Hurricane Sandy yesterday.  Today it was announced that the IRS is giving relief to those who file payroll and excise tax returns and make payments...

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Tax Planning

Tax Benefits Available for Victims of Natural Disaster

April 24, 2012April 24, 2012 / Ginita Wall, CPA, CFP®
The years 2011-2012 brought extreme weather and natural disasters across the US, from flooding to drought, snowstorms to wildfires, not to mention hurricanes, tornadoes and earthquakes, and destructive high wind storms. With those disasters came massive property losses, as many people...

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Tax News

Tax Savings: The President Signed the Payroll Tax Holiday Into Law

February 24, 2012February 24, 2012 / TurboTaxLisa
There’s great news for working taxpayers this week.  On February 22, the President signed the payroll tax holiday into law extending the 2 percentage point payroll tax cut through the end of 2012. The law maintains the lower payroll tax...

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Tax News

Payroll Tax Cut Bill Rejected by the House

December 22, 2011December 22, 2011 / TurboTaxLisa
On Tuesday, December 20th, House Republicans rejected the Senate’s two month extension of the payroll tax cut bill.  The rejection occurred just 11 days before the payroll tax law is set to expire. If you recall, the Senate passed the...

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Tax Planning

Disaster Preparedness: How Safe are Your Tax Documents?

August 28, 2011September 7, 2017 / TurboTaxLisa
As the East Coast braced for Hurricane Irene, one of the most massive hurricanes in history, millions evacuated and tried to prepare for the disaster.  With hurricane season upon us and unexpected disasters occurring, like last weeks earthquake on the...

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Tax News

The Taxman’s Plan for 2011

June 25, 2011November 29, 2011 / TurboTaxBob
Source In December 2010, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (Tax Act) was approved in Congress and signed into law. The tax law changes contained within the Act basically allowed existing tax rates to...

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