IRS Issues New Publication With Info for Terrorist Victims

The IRS has released Publication 3920, "Tax Relief for Victims of Terrorist Attacks," which provides details of guidelines and tax issues specifically related to victims and others affected by acts that are declared to be terrorist attacks.

The publication explains the provisions of the Victims of Terrorist Relief Act of 2001 and specifically covers relief for victims of the Oklahoma City attack of 4/19/95, the 9/11/01 attacks on the Pentagon and the World Trade Center, and various anthrax attacks that have occurred between 9/10/01 and 12/31/01.

The new publication also recommends that affected taxpayers examine Publication 547, Casualties, Disasters, and Thefts, and Publication 559, Survivors, Executors, and Administrators.

Publication 3920 includes rules, procedures and worksheets for tax forgiveness, information about payments to survivors, a summary of postponed tax deadlines and a list of affected taxpayers, and changes to estate tax laws for victims. Much of the publication is given over to sample worksheets describing how to calculate the changes that were enacted with this relief act.

"Our new publication gives affected taxpayers the details they need to claim the tax relief the law provides," said IRS Commissioner Charles O. Rossotti. "If they have further questions, we'll be here to help them."

The publication is available online now at the IRS Web site, and you can request a copy by mail by calling 1-800-TAX-FORM. Printed copies will be available in a few weeks.


You may like these other stories...

Ernst & Young 2013 audit deficiency rate 49%, regulators sayMichael Rapoport of the Wall Street Journal reported on Thursday that the Public Company Accounting Oversight Board (PCAOB) found deficiencies in 28 of the...
Some of your clients may get away to business conventions from time to time. It gives them a chance to rub shoulders with colleagues, catch up on the latest developments, and fine-tune their skills. And, when the meetings or...
PwC must face $1 billion lawsuit over MF Global adviceA federal judge on Wednesday ordered PricewaterhouseCoopers (PwC) to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the...

Already a member? log in here.

Upcoming CPE Webinars

Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 10
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.