Guide to Finance


eg: UK or Brides UK or Classical Art or Buy Music or Spirituality

Business & Money

Technology

Women

Health

Education

Family

Travel

Cars

Entertainment

Featured Sites

Victims Of Hurricane Katrina

View:

The IRS is giving relief to both businesses and individual taxpayers in certain areas that have been absolutely wiped out. Instead of being required to file in March or April, depending on whether the payer is a business or individual, all taxpayers in certain regions will have till August 28, 2006. Further, the RS is waiving all late filing penalties on people in the impacted areas even if they don't file by the August 28, 2006 deadline.

This automatic extension represents a very positive move by the IRS, but readers should keep in mind it doesn't apply to all areas. Only the most severely damaged areas get to take advantage of the extension. Those areas are in Louisiana: Cameron, Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, and St. Tammany. The automatic extension is also applied to individuals living in the Mississippi counties of Hancock, Harrison and Jackson.

For impacted taxpayers who live outside of these areas, the IRS is willing to grant more time to file taxes. Said taxpayers, however, must contact the IRS to identify themselves. To do so, taxpayers must contact the IRS by calling 1-866-562-5227, a disaster relief hotline or writing Hurricane Katrina on their tax returns when filing.

Importantly, none of these extensions applies to any ongoing business tax requirements for entities which are functioning. Ongoing business tax requirements include items such as filing employment tax deposits for employee wages if your business is still functioning. You can file your annual tax return late, but not monthly or quarterly items if you are up and running.

Without doubt, the Internal Revenue Service is the most maligned agency in the government. It is ironic that the agency has made positive step after positive step to grant relief of all sorts to victims in the disaster zone. The IRS has even published articles and press releases telling victims how to file amended taxes to claim the losses on previous tax returns and get refunds.

Compared to the rest of the federal government, the IRS is clearly the only agency that has stepped up and delivered for the victims of Hurricane Katrina. For once, the IRS deserves a standing ovation.

Victims Of Hurricane Katrina

The dealerships were reimbursed for the vehicles by their insurance companies, and the titles were officially marked as flooded. However, high numbers of vehicles remained hard to legitimately dispose of. Doubtless becoming a gold mine to the con artists who made their way to the southern states after Katrina looking for opportunity.

Know the facts

It's possible that whatever state you live in you are at risk when you purchase a used vehicle. Plus it makes sense that flooded titles will be easier to launder and sell in states far from the effects of the storm itself.

Flooding that reaches the cabin of the car is likely to cause lasting damage. The majority of the vehicles damaged because of Katrina were written off as a total loss by insurance companies. Onboard computers and audio equipment were submerged and mold and mildew tend to stay within fabrics even after they have been cleaned.

How to protect yourself

Use your head - Be sure to check the history of any vehicle you buy through CarFax.com. Remember that the title will only show flooding damage if the insurance company declared it a total loss.

Use your nose - Mold and mildew have very obvious odors and even though the fabrics in a flooded car have been cleaned, both mold and mildew will continue to be a persistent problem though out its life. Be sure to smell the trunk, floorboards and other places heat from outside may not have helped dry.

Use your eyes - Look under everything, the dashboard, the floor mats, mats in the trunk, even under the seats. Look for discolored fabrics, and debris, silt , mud or odd dirt of any kind that would indicate the car had been submerged. Look at the gauges for any moisture inside of them.

Use your hands - Check carefully under the hood, in fact, take the vehicle you want to purchase and get a mechanic to look for you. Feel under mats and in the trunk, places that might still hold moisture. Feel for brand new carpets and headliners, both of which tend to last for years before needing replacement.

Most of all, use your mouth - Ask questions! It can't harm and even a solid con man can only have so many scripted answers. The more you ask, the more you know.

Think on your feet

If you know the warning signs it should be easy to spot flood damage in a vehicle. Water damage can come from any number of sources, so Katrina's five hundred thousand plus vehicular victims are just added to the list.

Believe it or not, there is actually a list, or rather a database. The National Insurance Crime Bureau or the NICB has compiled a registry of VIN numbers which have been determined a total loss due to flood damage.

Related Articles
Author
Most Popular

•	About The Hurricane Katrina, by Dani Copas
•	Adult Victims Of Child Abuse, by John Bisnar
•	After The Hurricane Katrina, by C. Devin Hastings
•	Damage Caused By Hurricane Katrina, by Jacklyn Hartfield
•	Damage From Hurricane Katrina, by Rachel Yoshida

About Author

Both Richard A. Chapo & P. Filler are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Richard A. Chapo has sinced written about articles on various topics from Finances, Tax Deductions and Tax. Richard A. Chapo is with BusinessTaxRecovery.com - providing information on taxes. Visit us to read more. Richard A. Chapo's top article generates over 22200 views. Bookmark Richard A. Chapo to your Favourites.

P. Filler has sinced written about articles on various topics from Build Muscle, Car Rental and Cars. About the Author:My name is Paige Filler and I'm a creative writer with a love of all things that go vroom. I do my homework to bring thought and innovation into everything I write about the auto industry.You can find more of my stuff at. P. Filler's top article generates over 40500 views. Bookmark P. Filler to your Favourites.

Baseball Unassisted Triple Play
In the future, all your communication services could be on just one bill which bodes well for the surely-coming-soon adoption of mobile Internet, doesnt it?