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Posts Tagged ‘NY Tax and Hurricane Sandy’

How to Maximize Your Tax Deduction After a Disaster Strikes

If your home, vehicle, or other personal property is damaged or destroyed by a sudden, unexpected casualty, an itemized tax deduction may help ease the financial burden. Fire, flood, tornado. Violent weather can wreak emotional and financial havoc. If your home, vehicle, or other personal property is […]

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Facts on Late Filing and Late Payment Penalties

    April 15 was the annual deadline for most people to file their federal income tax return and pay any taxes they owe. By law, the IRS may assess penalties to taxpayers for both failing to file a tax return and for failing to pay taxes […]

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Tax Breaks are Available for Disaster Victims

      When natural disasters occur, they often leave many people with severely damaged or destroyed homes and businesses. Some lose everything they own. If you are affected by a disaster that is declared by the President to qualify for federal assistance, there are several provisions […]

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Retirement Plans Can Make Loans, Hardship Distributions to Sandy Victims

  As part of the administration’s efforts to bring all available resources to bear to support state and local partners impacted by Hurricane Sandy, the Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane […]

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Hurricane Sandy: Tips for Accessing Relief

  The devastation caused by Hurricane  (now Superstorm) Sandy is widespread. And while you may not have been impacted directly by the storm, you may know of someone who was. Fortunately, the relief wheels are in motion, albeit never fast enough. In an effort to help those […]

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IRS Announces Qualified Disaster Treatment of Payments to Victims of Hurricane Sandy are not Taxable

Washington – The Internal Revenue Service today alerted employers and other taxpayers that because Hurricane Sandy is designated as a qualified disaster for federal tax purposes,  qualified disaster relief payments made to individuals by their employer or any person can be excluded from those individuals’ taxable income. […]

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NYS Tax Department Deadline for Filing NYC MCTMT Protective Claims Extended

  Reminder:  Due to Hurricane Sandy, the November 2, 2012, deadline to file a Metropolitan Commuter Transportation Mobility Tax (MCTMT) protective refund claim has been extended to November 14, 2012. N-12-11,  Announcement Regarding Hurricane Sandy, explains this extension and other tax related extensions for taxpayers affected by […]

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Additional NY Tax Relief for Employers Affected by Hurricane Sandy

  Governor Andrew M. Cuomo has declared a State Disaster Emergency for the entire state of New York. As a result of this declaration, Commissioner Thomas H. Mattox postponed certain tax filing and payment deadlines for taxpayers who were directly affected by Hurricane Sandy (see Important Notice […]

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New York Announcement Regarding Hurricane Sandy

Well Hurricane Sandy left behind countless fallen trees and power lines.  There were stories of tragedy and survival, of people who lost everything when the water rushed in, of buildings that crumbled after being pounded hour after hour by rain and relentless wind, of hospitals that had […]

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