Relief for Hurricane Katrina Taxpayers...

Starting on August 30, 2005, the IRS began to announce Special Relief for taxpayers in the Presidentially-Declared Disaster Areas affected by Hurricane Katrina. Taxpayers residing in the following counties will have their tax deadlines extended, including the 45-day or 180-day time deadlines for their 1031 exchanges. Originally the extensions went to October 31, 2005. The NEW extensions go to January 3, 2006, which apply to what the IRS calls, "time sensitive acts."

For example, if your 45-day or 180-day deadline fell on 08/30/2005 or after, your deadline is 'extended' to 01/03/2006.

64 Louisiana Parishes: Acadia, Allen, Ascension, Assumption, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Caldwell, Calcasieu, Cameron, Catahoula, Claiborne, Concordia, Desoto, East Baton Rouge, East Carroll, East Feliciana, Evangeline, Franklin, Grant, Iberia, Iberville, Jackson, Jefferson, Jefferson Davis, Lafayette, Lafourche, LaSalle, Lincoln, Livingston, Madison, Morehouse, Natchitoches, Orleans, Ouachita, Pointe Coupee, Plaquemines, Rapides, Red River, Richland, Sabine, St. Bernard, St. Charles, St. Helena, St. James, St. John, St. Landry, St. Mary, St. Martin, St. Tammany, Tangipahoa, Tensas, Terrebonne, Union, Vermilion, Vernon, Washington, Webster, West Baton Rouge, West Carroll, West Feliciana and Winn.

52 Mississippi Counties: Adams, Amite, Attala, Chickasaw, Choctaw, Claiborne, Clarke, Clay, Copiah, Covington, Forrest, Franklin, George, Greene, Hancock, Harrison, Hinds, Itawamba, Jackson, Jasper, Jefferson, Jefferson Davis, Jones, Kemper, Lamar, Lauderdale, Lawrence, Leake, Lee, Lincoln, Lowndes, Madison, Marion, Monroe, Neshoba, Newton, Noxubee, Oktibbeha, Pearl River, Perry, Pike, Rankin, Scott, Simpson, Smith, Stone, Walthall, Warren, Wayne, Webster, Wilkinson, and Winston.

Six Alabama Counties: Baldwin, Clarke, Choctaw, Mobile, Sumter and Washington.

Three Florida Counties: Broward, Miami-Dade and Monroe.

Other releases from the IRS include:

IR-2005-84 (08/30/05)
IR-2005-88 (09/01/05)
IR-2005-91 (09/02/05)
IR-2005-96 (09/08/05)

These announcements are in addition to the original releases by the IRS on August 30, and extend the affected areas originally granted relief.

The IRS has also set up a special toll-free number exclusively dedicated for calls regarding Hurricane Katrina. The toll-free number, 1-866-562-5227, is available Monday - Friday from 7am to 10pm, central time zone.

The following is a link to the official IRS Bulletin: http://www.irs.gov/newsroom/article/0,,id=147055,00.html.

Please call The Experts, nationwide, toll-free, if you have any questions about this special circumstance: 866-694-0204.

--The Experts