The Colorado Department of Revenue will postpone filing and payment deadlines to Dec. 2, 2013 and will waive penalty and interest for all taxes for taxpayers and tax professionals directly impacted by the severe storms, flooding, landslides and mudslides during September 2013. 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 Sept. 13, Sept. 19, and Oct. 8, 2013 Executive Orders, Disaster Emergency Declaration, will benefit from the Colorado filing and payment deadline postponement: Adams, Arapahoe, Boulder, Broomfield, Chaffee, Clear Creek, Crowley, Denver, El Paso, Fremont, Gilpin, Jefferson, Lake, Larimer, Lincoln, Logan, Morgan, Otero, Park, Prowers, Pueblo, Sedgwick, Washington and Weld Counties (Front Range Flooding). The Department of Revenue has extended the filling deadline for those businesses in the impacted areas to allow them sufficient time to recreate necessary records in order to file accurate sales tax returns. However, we are also encouraging any business in the disaster designated areas that were not materially impacted by the flooding to timely file and remit their taxes because these revenues are much needed at this critical time in order to aid in relief and recovery efforts and in order to fund necessary municipal services. This tax relief will apply to any additional areas that may be added to the declaration.
Generally, the Colorado Department of Revenue follows the Internal Revenue Service’s lead for extending filing deadlines because of natural disasters. The department is taking additional measures, such as reprogramming its accounting systems, Revenue Online and other electronic filing services, to automatically recognize taxpayers and tax professionals in the affected counties when they file returns between now and Dec. 2. Those filing paper returns should write the word “Flood” at the top of the form.
Taxes include individual, partnership, corporate, and fiduciary income taxes and estimated income taxes, severance taxes, withholding taxes, sales taxes, use taxes and excise taxes.