IRS Problem-Solving Day to Include Victim Info

Article excerpt

OKLAHOMA CITY (JR) -- The Internal Revenue Service's problem- solving day on Saturday has been expanded to include information for victims of last week's storms.

Problem-solving day for central Oklahoma taxpayers is scheduled from 9 a.m. to 3 p.m. Saturday at the IRS office, 55 North Robinson Ave.

Individuals with long-standing tax problems who have had difficulty getting answers will have the opportunity to meet with IRS employees face-to-face, in a confidential setting. This day is scheduled in coordination with 36 other nationwide locations. As a special service that day to help those affected by the May 3 tornadoes and storms, both IRS and Oklahoma Tax Commission representatives will provide free assistance in disaster-related tax matters and the preparation of casualty loss claims. A special federal tax law provision allows a taxpayer to choose to deduct casualty losses sustained in a presidentially declared disaster area on the tax return of the year immediately preceding the year in which the disaster occurred, which can result in quick receipt of a federal tax refund at a time when money is most needed. Oklahomans who've already filed their 1998 tax returns and wish to claim their deductible disaster losses now may file an amended tax return for 1998 using IRS Form 1040X. Those who filed for an automatic four-month extension by April 15 and, as a result, have not yet filed their 1998 federal income tax returns, can choose to include their deductible losses as they prepare their tax returns. Alternatively, taxpayers may wait and claim any disaster loss deductions on their 1999 federal income tax returns, which will be due to be filed by April 15, 2000. …

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