Tax Relief for Hurricane Harvey

The Desroches Partners group is all safe! We have had a number of employees that have had their homes flooded. We were closed last week and will be open starting today, September 5th.

The week of the 5th thru the 8th will be a little crazy around our office as we will allow our employees time to get their personal lives back in order and deal with any damages to their homes.

Last week the IRS issued tax relief for victims of Hurricane Harvey. Taxpayers residing or operating a business in the counties listed below will have until
January 31, 2018, to file certain individual and business tax returns and make certain tax payments. This relief includes individual and business taxpayers granted extensions until September 15, 2017, or October 16, 2017. It also includes quarterly estimated income tax payments originally due on September 15, 2017, and January 16, 2018, and the quarterly payroll and excise tax returns normally due on October 31, 2017.

Texas counties eligible for tax relief:

Aransas, Bee, Brazoria, Calhoun, Chambers, Colorado, Fayette, Fort Bend, Galveston, Goliad, Hardin, Harris, Jackson, Jasper, Jefferson, Kleberg, Liberty, Matagorda, Montgomery, Newton, Nueces, Orange, Refugio, Sabine, San Jacinto, San Patricio, Victoria, Waller, and Wharton.

More counties will be eligible for tax relief in the coming days and weeks; we will keep you informed as this list develops.

Also, the IRS issued IR-2017- 138, for victims of Hurricane Harvey that may be eligible to receive loans and hardship distributions from 401(k) plans and similar employer-sponsored retirement plans. We are sure there is more to be released in this area in the coming weeks.

For more information, visit the IRS website by clicking here.

Finally, please call us if we can be of any assistance. We have quite a few resources and contacts at our disposal to help you or your family.

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