On September 6, 2011, the Christie Administration announced that the New Jersey Division of Taxation will extend tax payment and filing deadlines for individuals and businesses whose operations were disrupted by Hurricane Irene.  Taxpayers who are not able to make normal deadlines for any tax filings (including estate and inheritance tax returns) that were due on or after August 27, 2011 have been extended until October 31, 2011.  All 21 New Jersey counties have been declared federal disaster areas and would qualify for this relief.

In New York, deadlines for tax returns due on or after August 26, 2011 and before October 31, 2011 have also been postponed until October 31, 2011.  This applies to taxpayers directly affected by the storm in the counties of Albany, Clinton, Delaware, Dutchess, Essex, Greene, Montgomery, Nassau, Orange, Otsego, Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, Sullivan, Suffolk, Ulster, Warren and Westchester. This does not affect New York, Kings, Bronx or Queens Counties.

Also, the Internal Revenue Service is giving affected taxpayers until October 31, 2011 to file most tax returns (including estate, gift or GST tax returns), or to make tax payments that have either an original or extended due date occurring on or after August 27, 2011, and on or before October 31, 2011.

We will keep you apprised of the developments regarding this relief.