IRS Gives Tax Relief for Virgin Island Victims Affected by Hurricane Irma

The IRS issued News Release VI-2017-01 announcing tax-related deadline relief for U.S. Virgin Islands’ victims of Hurricane Irma. This relief includes an extension of time to complete certain time-sensitive tax-related acts under Treasury Regulation 301.7508A-1(c)(1). This includes completion of rollovers, recharacterizations, certain excess contribution corrections, making plan loan payments, filing Form 5500, and certain other acts under this regulation. Deadlines that fall on or after September 6, 2017, and on or before January 31, 2018, are extended to January 31, 2018.

The relief at this time applies to St. John and St. Thomas in the U.S. Virgin Islands. It is expected that relief for victims of Hurricane Irma in other locations will soon be issued.

The relief applies specifically to residents of the identified areas, to those whose businesses or records necessary to meet a covered deadline are located there, and to certain relief workers providing assistance following the disaster events. Any individual visiting a covered disaster area that was injured or killed as a result of the events is also entitled to deadline relief. Affected taxpayers who reside or have a business located outside the covered disaster area are required to call the IRS disaster hotline at 866-562-5227 to request relief.

The IRS issues disaster-related tax relief news releases at its disaster web page that identify the deadline extension period and specific areas included in the relief. Often, they are updated and revised, sometimes to expand the coverage area. See the IRS website for the most current news releases and their details.