October 27, 2005 – The IRS has issued News Release IR-2005-128 granting qualifying taxpayers who are victims of Hurricane Wilma an extended period of time for filing tax returns and completing certain tax-sensitive tax-related acts. These tax-related acts are essentially the same as those identified in earlier relief granted to qualifying victims of Hurricanes Katrina and Rita, acts identified under Treas. Reg. 301.7508A-1(d)(1) and in Revenue Procedure 2005-27. Some retirement plan and IRA-related tax acts that may be postponed include distributions of substantially equal periodic payments, required minimum distributions and completing rollovers.
The deadline for filing or for completion of the time-sensitive acts is February 28, 2006, the same date as for relief granted to victims of Hurricanes Katrina and Rita. For Hurricane Wilma, however, the extension is for deadlines that fall on or between the dates of October 23, 2005, and February 28, 2006. Twenty Florida counties are included in this relief, and are identified in IR-2005-128.
News Release IR-2005-128 may be accessed at http://www.irs.gov/newsroom/article/0,,id=150041,00.html.