IRS Launches Gulf Oil Spill Hotline, Plans Special Assistance Day


The IRS announced that it has set up a special toll-free telephone line for taxpayers affected by the oil spill in the Gulf of Mexico. The phone number is 866-562-5227, and it will operate on weekdays from 7 a.m. to 10 p.m. local time, the IRS said.

The phone line is available to provide information to taxpayers who are having trouble filing their returns or making tax payments because of the oil spill. It will also serve to answer questions from taxpayers who have received payments from BP. In certain cases, the IRS can suspend collection or examination actions for oil-spill victims.

The IRS has also created an FAQ page on its website to address the tax treatment of BP payments and other oil-spill related tax questions.

On July 17, the IRS plans to hold a special Gulf Coast assistance day for taxpayers affected by the oil spill. IRS personnel will be available to meet with taxpayers to resolve oil-spill related tax issues in Mobile, AL; Panama City and Pensacola, FL; New Orleans, Houma, and Baton Rouge, LA; and Gulfport, MS. The IRS has not yet announced the times or specific locations in th

Newsletter Articles

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.