The Kentucky Department of Revenue (DOR) will honor recently announced IRS special tax relief for taxpayers in the Presidential Disaster Areas who were victims of severe storms, flooding, mudslides and tornados beginning May 1, 2010.
The President has declared Adair, Allen, Anderson, Barren, Bath, Bourbon, Boyd, Boyle, Butler, Carter, Casey, Christian, Clark, Clinton, Crittenden, Cumberland, Edmonson, Elliott, Estill, Fayette, Fleming, Franklin, Garrard, Green, Greenup, Hardin, Hart, Henry, Hopkins, Jackson, Jessamine, Larue, Lee, Leslie, Lewis, Lincoln, Livingston, Logan, Madison, Magoffin, Marion, Menifee, Mercer, Metcalfe, Monroe, Montgomery, Nelson, Nicholas, Ohio, Owen, Powell, Pulaski, Rockcastle, Rowan, Russell, Simpson, Taylor, Warren, Washington, Wayne, Wolfe and Woodford counties federal disaster areas qualifying for individual assistance.
As a result, the IRS is postponing until June 30 certain deadlines for taxpayers who reside or have a business in the disaster area. Additional information regarding this special tax relief may be found at www.irs.gov
Under the provisions of KRS 131.081 (11), Kentucky honors federal extensions related to disaster relief for filing of income tax returns, including payment of tax due. This extension to file and pay taxes does not apply to sales, and other type of taxes.
Late filing and payment penalties will be waived for those affected taxpayers who have an original or extended filing, payment or deposit due date, including an extended filing or payment due date, that falls within the postponement period. Kentucky’s tax laws have no provision for the waiver of interest.
Taxpayers are advised to label the top margin of the tax forms filed under this relief provision in large, red letters with the words “May 2010 Storms.” Taxpayers requiring assistance with penalty waivers or additional tax information may contact the Department of Revenue at (502) 564-4581.