With the current fires around Oregon and for practitioners and clients who are affected, OSCPA offers the following updates and resources. We will update with more information as it becomes available.
- 9/21/2020: Oregon Department of Revenue staff are meeting to finalize a decision following the 9/16 IRS announcement of tax relief. Once announced by DOR, OSCPA staff will share the update.
- 9/16/2020: IRS announces tax relief for Oregon wildfire victims
Federal Response: Disaster Emergency & FEMA
As of 9/11/2020: OSCPA has been advised that the process is that once the White House declares a Disaster Emergency, then FEMA can become involved. The White House has done so, and FEMA is now involved.
- On Sept 10, FEMA declared 11 Oregon counties disaster areas, Public Assistance (Category B): www.fema.gov/disaster/3542 The counties are: Tillamook, Lincoln, Washington, Clackamas, Marion, Linn, Lane, Douglas, Jackson, Klamath, and Jefferson
- After the Oregon counties have been designated as qualifying for "public assistance," IRS may grant relief at the next stage – "individual assistance."
- AICPA advises to monitor the above FEMA URL in the event it is updated. Other useful information may be posted on the FEMA page as well.
- FEMA Press Release 9/12/20: www.fema.gov/press-release/20200912/...
September 15 Deadline - IRS and DOR Response
The FEMA update above clears the way for the IRS to proceed related to a declared disaster.
Here is what happened related to CA wildfires under what looks like similar circumstances.
- IRS Newsroom: IRS announces tax relief for California wildfire
- Important IRS page for Tax Relief in Disaster Situations.
The Oregon Department of Revenue has reached out to the IRS and is awaiting an update on Sept. 15th.
- The DOR will also be posting information in their recently updated news outreach. To register/subscribe, go to: DOR web page.
- When you reach the site, a pop-up will appear in the lower right corner of the DOR home page where you can select the various news options.
⇒ Other information related to COVID-19 but of possible use:
- In July, this letter was advanced from AICPA to the IRS related to COVID-19:
"With the upcoming September and October tax deadlines, many tax practitioner members are concerned about penalties that could be assessed for missing deadlines due to COVID-19 pandemic issues. The AICPA Tax Team has worked diligently to share member concerns with the IRS, in both a July letter and in ongoing conversations."
- This Journal of Accountancy article, posted Sept. 11, 2020, explains that "the AICPA understands that the IRS is willing to work with taxpayers who need relief." The article gives suggestions for CPAs to use if they cannot meet a deadline due to pandemic-related issues, and options to consider if a client receives a late-filing notice.
AICPA Disaster Recovery Guide (pdf) - This comprehensive guide, created in partnership with the American Red Cross, is an easy-to-read tool for members and the public, with several good checklists to follow, both before and after an event.
Ways to help:
See also the CPA Season of Service page