State Says Faulkner County Taxpayers May Qualify For Relief

by Talk Business & Politics staff ([email protected]) 120 views 

The Arkansas Department of Finance and Administration said taxpayers in Faulkner County will be provided special tax relief due to the tornado and storms that ravaged the area on April 27.

“Taxpayers having issues affecting their ability to file or pay sales and use tax, withholding tax, corporate income tax or other state taxes as a result of these storms should call telephone number (501) 682-7924 to discuss their issues,” a declaration from the agency said on Thursday.

DF&A said it will extend taxpayer deadlines to file tax documents and will abate interest and penalties related to state taxes if the failure to file or pay results from issues related to the storm.

“In addition, taxpayers are reminded that if you have a casualty loss resulting from a federally declared disaster, you may be able to deduct that loss on your income tax return or amended income tax return for the tax year immediately preceding the tax year in which the disaster occurred,” the memo stated. “Taxpayers may wish to consult a tax professional for advice regarding this election.”