For Americans who were hit hard by the recent natural calamities that hit the nation, after days of hearing nothing but pouring rain, deafening thunder and howling winds, what can be more pleasing to the ears than hearing the government announce an extension on tax payments?
Just recently, the Internal Revenue Service said that they will extend the deadline for paying quarterly estimated tax due to the recent storms that hit the nation. However, these tax extensions only apply to people who are living in states that were tremendously affected by the storms, tornadoes, and floods.
It's good to know that the tax agency is sensitive to the needs of distressed Americans who'd surely appreciate any kind of help from any source. Extending the deadline for tax payments will help lift a great deal of burden off the storm victims, whose daunting task is to rebuild their homes and communities so they can start a new life.
After the traumatic experience of losing homes and loved ones, incurring penalties from late tax payments would be the last thing on their minds. Most likely, a majority of them won't have money left over for paying taxes because much of it went towards fixing their roof, replacing windows and walls, or buying a new home.
The agency has postponed the filing of returns and tax payments as well as removed penalties for failing to deposit employment and excise taxes.
Now that's music to the ears.
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