April 5- New Jersey Severe Storm and Flooding Victims Have Until May 11 to File Their Tax Returns. Casualty losses due to storms may be deducted from either 2009 or 2010 returns.
Is this an extension of time to file only, or only of time to pay?
The posted link answers your question. File, pay, IRA contributions, etc.
The only problem I have is with Turbotax and efiling in NJ. Under normal circumstances, TT requires efiling Fed and NJ at the same time. I owe a bunch to the Fed but only about $20 to NJ so I'd like to efile late. If I delay the efiling to May 11 BUT NJ still requires it by 4/15, presumably I will owe a penalty to NJ. Anyone know how to compute the penalty for late efiling in NJ?
Here's what NJ says about disaster areas:
It is the New Jersey Division of Taxation?s general policy to follow the guidelines provided by the IRS for special tax relief for taxpayers in the Presidential Disaster Relief Areas. The relief granted to affected taxpayers is limited in time to the periods during which emergencies actually occurred and/or during which relief and recovery activities were on going. Affected taxpayers include businesses and individuals located in the affected areas, those whose tax records are in the affected areas, and relief workers.
So... contact the NJ Div. of Taxation and see if they issued the directive to follow the feds.
Great!. Many thanks for your reply. I will visit the NJ web site and keep an eye out for any notice that they will be following the IRS guidelines.
NJ has posted a notice that they are following the IRS policy.
And it's totally messing up FY 2011 budget projections (FY starts July
1) because of delays in collecting both income tax and sales tax (neither of which existed prior to 1966, but that's another story).BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.