Posted: November 11, 2012

The Internal Revenue Service has issued several news bulletins regarding assistance and tax relief for small businesses and individuals that have been impacted by Hurricane Sandy.

Treasury and IRS Expand Availability of Housing for Hurricane Sandy Victims
As part of the administration's continued support for states and local partners impacted by Hurricane Sandy, the Treasury Department and the Internal Revenue Service today announced that they will waive low-income housing tax credit rules that prohibit owners of low-income housing from providing housing to victims of Hurricane Sandy who do not qualify as low-income. The action will expand the availability of housing for disaster victims and their families.

IRS Waives Diesel Fuel Penalty Due to Hurricane Sandy
The Internal Revenue Service, in response to shortages of clear diesel fuel caused by Hurricane Sandy, will not impose a tax penalty when dyed diesel fuel is sold for use or used on the highway

IRS Announces Qualified Disaster Treatment of Payments to Victims of Hurricane Sandy
The Internal Revenue Service today alerted employers and other taxpayers that because Hurricane Sandy is designated as a qualified disaster for federal tax purposes, qualified disaster relief payments made to individuals by their employer or any person can be excluded from those individuals' taxable income

IRS Provides Tax Relief to Victims of Hurricane Sandy; Return Filing and Tax Payment Deadline Extended to Feb. 1, 2013
In the aftermath of Hurricane Sandy, the Internal Revenue Service announced additional tax relief to affected individuals and businesses