IRS Gives Tax Relief to Hurricane Iniki Victims

The Internal Revenue Service today granted relief to taxpayers in the designated disaster areas of the Hawaiian islands who are unable to meet their federal tax obligations because of Hurricane Iniki.

These taxpayers have until January 15, 1993, to file any federal income tax return or pay any federal tax that would have been due on or after September 11, 1992, and before January 15, 1993. No extension of time is available for deposits of withheld income, social security or excise taxes. However, if a taxpayer in the disaster area was unable to timely make any deposits due for payroll or excise taxes, the penalty for late deposits will be abated if the taxes are deposited no later than November 16, 1992. Those affected should write"INIKI" on any return relying on this relief.

The IRS will also suspend for 30 days normal collection and examination actions for affected taxpayers in the area. No new examinations will be started and taxpayers currently being examined will be given additional time to respond to any requests for information. Those who receive notices which may already be in the mail should contact the IRS to obtain more time.

The attached Notice 92-44, containing technical guidance, will be published in Internal Revenue Bulletin 1992-40, dated October 5, 1992.

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