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CCH® PENSION AND BENEFITS — 6/24/08

IRS grants tax relief to victims of storms, floods and tornadoes in Indiana and Wisconsin

The IRS has announced special tax relief for taxpayers within a 28-county disaster area in Indiana affected by severe storms, floods and tornadoes beginning May 30, 2008. The Presidential Disaster Area consists of Adams, Bartholomew, Brown, Clay, Daviess, Dearborn, Decatur, Greene, Hamilton, Hancock, Henry, Jackson, Jennings, Johnson, Knox, Marion, Monroe, Morgan, Owen, Parke, Putnam, Randolph, Rush, Shelby, Sullivan, Vermillion, Vigo, and Wayne counties. The relief extends until August 7, 2008 the deadlines for filing most returns and paying taxes otherwise due during the period of May 30, 2008 through August 7, 2008. For excise and employment deposits due during the period of May 30, 2008 through June 16, 2008, the IRS will waive the failure to deposit penalty if such deposits were made by June 16, 2008.

The IRS has announced special tax relief for taxpayers within a seven-county disaster area in Wisconsin affected by severe storms, tornadoes and flooding on June 5, 2008. The Presidential Disaster Area consists of Crawford, Columbia, Sauk, Milwaukee, Racine, Richland, and Vernon counties. The relief extends until August 13, 2008, the deadlines for filing most returns and paying taxes otherwise due during the period of June 5, 2008, through August 13, 2008. For excise and employment deposits due during the period of June 5, 2008, through June 20, 2008, the IRS will waive the failure to deposit penalty if such deposits were made by June 20, 2008.