Deadline near for filing income tax returns in storm-affected counties

Some important deadlines are approaching for people dealing with damage from the floods that followed the massive rainstorms of March 18 and 19.

Monday is the last day to file a 2007 tax return without penalty for people in 35 counties designated as disaster areas following the storms. The IRS and the Missouri Department of Revenue pushed the deadline back from April 15 for those counties, which include Cape Girardeau, Bollinger, Scott and Stoddard.

And the last day to seek disaster grants from the Federal Emergency Management Agency or disaster loans the Small Business Administration is approaching as well. That deadline is May 27.

The tax deadline can be extended again by requesting the automatic six-month extension to file, said Michael Devine, a St. Louis-based spokesman for the IRS. But taxpayers should remember that an extension to file is not an extension to pay -- extension requests must include an estimate of the taxes owed and a check to cover the amount, Devine said.

Getting the tax return filed is more important this year because the tax rebate checks authorized by the federal stimulus plan will not be sent until a full tax return has been received and processed, he said.

The tax rebates are already being delivered to people who filed before the April 15 deadline, Devine said.

Those who have not filed or who did not have their return in with enough time to have it processed by April 15 won't receive their stimulus payments according to the published schedule, he said. And the stimulus payment will not be combined with a regular return.

Returns not postmarked by Monday will have a late penalty imposed, unless a refund is due, Devine said. "The late filing penalty is so easy to avoid," Devine said.

The returns due Monday can include a deduction for storm losses that are not otherwise covered by insurance, Devine said. And any money granted by FEMA is not considered income for federal tax purposes.

Don Bolger, a spokesman for FEMA, said the approaching FEMA deadline applies to new claims and claims for residual damage -- problems that are only now being discovered and caused by the flooding. So far, residents of Cape Girardeau County have been awarded $934,661, residents of Bollinger County have received $762,492, residents of Scott County have been granted $318,246 and residents of Stoddard County have been awarded $306,053.

For people who have applied for help and been turned down, an appeal may be filed within 60 days of the denial, Bolger said.

While all the disaster recovery centers have been closed, a disaster loan center is still open in Jackson at the Jackson Fire Department administration building, 503 S. Hope St., Bolger said. The loan centers help individuals and businesses seeking low-interest SBA loans to cover repairs and recovery costs not covered by insurance or FEMA grants. The hours are 9 a.m. to 6 p.m. Monday through Friday and 9 a.m. to 1 p.m. Saturday.

There will be help with ideas for preventing future flood damage available this week at Lowe's Home Improvement Center, 3440 Lowes Drive in Cape Girardeau. Mitigation teams will be on hand from 8 a.m. to 6 p.m. daily through Saturday with ideas for techniques to prevent damage from water and wind.

rkeller@semissourian.com

335-6611, extension 126

On the Net

Federal tax information: www.irs.gov

Missouri tax information: dor.mo.gov

FEMA flood help: www.fema.gov