July 10, 2006 – The IRS has announced the granting of relief from certain tax-related deadlines to residents of six Ohio counties, following tornadoes, straight-line winds, and flooding June 21-23. In IRS news release IR 2006D-01, the IRS granted relief to certain affected individual and business taxpayers in Cuyahoga, Erie, Huron, Lucas, Sandusky, and Stark counties. The extension applies to covered tax-related acts with deadlines from June 21 to September 5, 2006. Those actions now have a deadline of September 5, 2006. Deadlines eligible to be extended include those for time-sensitive tax-related acts described in Treas. Reg. Sec. 301.7508A-1(c)(1). Among them are the completion of rollovers, making plan loan payments, and Form 5500 filing. For those acts that require a filing with the IRS (e.g., Form 5500), the legend “Severe Storms—Ohio” is to appear in red on the item.
IR 2006D-01 and guidance for the applicable tax acts that may be postponed may be accessed in the following.