Up to the Minute..
May 24, 2013
OTC Extends Tax Relief to Tornado Victims
After the disaster that struck Oklahoma May 19 and May 20, 2013 the Oklahoma Tax Commission has extended tax relief to the tornado victims. Below are highlights of the actions of the Commission.
OKLAHOMA TAX COMMISSION (Commission Order 2013-05-23-01)
- Provides that the Oklahoma Tax Commission can assist affected taxpayers in reconstruction of destroyed records, filing of reports and other areas of inquiry.
- May provide relief to the affected taxpayers who are unable to timely report or to make payment of taxes because of the May 2013 tornadoes through the waiver of interest and/or penalty as provided in 68 O.S. Supp. 2004 § 220 or through the authorization of extended payment plans as provided by Commission guidelines.
- Provides interest and/or penalty that is less than Ten Thousand Dollars ($10,000.00) due as a result of inability to report or make payment because of the May 2013 tornadoes shall be waived so long as the taxpayer has voluntarily filed the report(s), paid the taxes due thereunder and submitted a written statement of the taxpayers’ circumstances.
Please click on the link below to read the official order:
Commission Order May 2013 Tornado