How Do You Spell "Relief"?
For businesses hurt by the September 11 attacks, the answer may be "IRS."
The IRS is offering a number of adjustments as a result of the September 11 attacks, one of which allows you to claim quick refunds of estimated tax overpayments before you even file your tax return. This could help fiscal-year filers whose expected profits were reduced or eliminated. To apply for the quick refund, use Form 4466. You must file it by the 15th day of the third month after the end of your company's tax year, and before filing your tax return.
The IRS is also giving some extensions for businesses and individuals in the federally declared disaster areas of New York City and Arlington County, Virginia. For details, visit the IRS' Disaster Relief page at www.irs.gov.
Continue reading this article -- and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!