Colorado Flood Disaster Relief
The Colorado Department of Revenue will extend ﬁling deadlines to December 2, 2013, for corporate and personal income, partnership, ﬁduciary, withholding, sales, and excise taxes and waive penalty and interest for all taxpayers and tax professionals directly impacted by the recent severe storms, ﬂooding, landslides, and mudslides (TAXDAY, 09/17/2013, S.9). This matches the Internal Revenue Service (IRS) tax relief for victims of Colorado storms.
Taxpayers and tax professionals in the following counties listed in the governor’s September 13 and September 19, 2013, Executive Orders, Disaster Emergency Declaration, will beneﬁt from the Colorado ﬁling and payment deadline postponement: Adams, Arapahoe, Boulder, Broomﬁeld, Clear Creek, Denver, El Paso, Fremont, Jeﬀerson, Larimer, Logan, Morgan, Pueblo, Sedgwick, Washington, and Weld Counties (Front Range Flooding). This tax relief will apply to any additional areas that may be added to the emergency declaration.
Income taxpayers and tax professionals who are in the designated disaster areas must ﬁle one of the following forms with a "FLOOD" designation to qualify for tax relief:
2012 income tax return ﬁled on extension (Forms 104,105,106, and 112);2012 net income tax due with an extension return (Form 158); or3rd quarter 2013 estimate tax payment (Form EP - this will be designated on the 2013 income tax return).
The designation may be made by ﬁling using Revenue Online and marking the appropriate box; indicating "FLOOD" by using the electronic software product; or for paper returns, writing "FLOOD" in large letters on the top of the return that is mailed to the department. All submissions must be e-ﬁled or postmarked by December 2, 2013, to qualify for this relief.
Additional ﬁling details: http://www.colorado.gov/cs/Satellite/Revenue/REVX/1251646247815
|Publication 547, Casualties, Disasters, and Thefts
This publication explains the tax treatment of casualties, thefts, and losses on deposits. A casualty occurs when your property is damaged as a result of a disaster such as a storm, fire, car accident, or similar event. A theft occurs when someone steals your property. A loss on deposits occurs when your financial institution becomes insolvent or bankrupt. http://www.irs.gov/publications/p547/index.html
In addition, local businesses affected by the flood may locate and contact their local Business Recovery Center (BRC) for disaster relief and financial assistance. For more information please click on the Colorado Northeast-East Central SBDC link. http://www.neeccosbdc.org/
Our offices are located in Fort Collins and Greeley Colorado and Cheyenne Wyoming. At each of our locations you’ll find friendly, knowledgeable staff ready to assist you. Please visit us at one of our locations –
- 1235 Riverside Ave, Fort Collins CO or Call 970-692-5300
Hours: 8:00 AM - 5:00pm Monday - Thursday
- 4631 W 20th Street Rd, Greeley CO or Call 970-304-9420
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- 1620 Central Ave Ste 301, Cheyenne WY or Call 307-631-5598
You are also welcome to email us at email@example.com.
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