Due to the damage caused by flooding in South Dakota beginning on March 11, 2011, President Barack Obama declared the following counties a federal disaster area: Charles Mix, Hughes, Stanley and Union. Individuals who reside or have a business in these counties may qualify for tax relief.
Declaration Leads to Extension of Payroll Tax and Other Deadlines
Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after March 10, 2011 and before March 29, 2011 as long as the deposits were made by March 28, 2011. In addition, affected taxpayers had until June 30, 2011 to file most tax returns.
Vision Payroll is Here to Help Affected Taxpayers with Payroll Tax Issues