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Publication Date: September 2005
Publisher: Library of Congress. Congressional Research Service
Author(s):
Research Area: Banking and finance
Type:
Abstract:
After Hurricane Katrina, the Internal Revenue Service (IRS) announced several tax relief measures to aid affected individuals and businesses. They cover a range of subjects, from postponing deadlines for paying taxes and filing returns for individuals, employee benefit plans and tax-exempt bond issuers, to waiving penalties for certain fuel excise taxes. This report summarizes these measures and discusses the statutory authority for the IRS's actions.