IRS Gives Boston Marathon Victims A Welcome Tax Extension –– With A Catch
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The IRS has released more information about its tax extension for Boston residents and anyone impacted by Monday's brutal terrorist attack.
The new deadline to file and pay taxes is July 15, but t here's just one catch:
While the extension will waive any late fees and penalties for filing or paying taxes after the April 15 deadline, the agency is still enforcing its 3% interest rate on unpaid taxes, which compounds daily. That means the sooner people can pay, the better off they'll be.
Who qualifies: The extension applies to individual taxpayers living in Suffolk County, Mass., including the city of Boston. But it's not just for residents. Victims, their families, first responders and anyone immediately impacted by the attack are also included.
How to apply: If you live in Suffolk County, you're all good. The IRS will send you a notice by mail of your eligibility.
If you were impacted by the attack but live outside of Suffolk County, call 1-866-562-5227 starting Tuesday, April 23. If you've already been notified of a penalty for missing the tax filing deadline, you'll need this number to have the fees removed.
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