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CCH® PENSION AND BENEFITS — 7/9/08

IRS grants tax relief to victims of severe weather in Nebraska, West Virginia and Illinois

The IRS has announced special tax relief for taxpayers within a thirteen-county disaster area in Nebraska affected by severe storms, tornadoes and flooding on May 22, 2008; within a nine-county disaster area in West Virginia affected by severe storms, tornadoes, mudslides, landslides and flooding on June 3, 2008; and within a fourteen-county disaster area in Illinois affected by severe storms and flooding on June 1, 2008.

For affected Nebraska taxpayers, the relief extends until August 19, 2008 the deadlines for filing most returns and paying taxes otherwise due between May 22, 2008 and August 19, 2008. The IRS will waive the failure-to-deposit penalty for excise and employment deposits due during the period of May 22, 2008 through June 6, 2008, if such deposits were made by June 6, 2008.

For affected West Virginia taxpayers, the relief extends until August 18, 2008 the deadlines for filing most returns and paying taxes otherwise due between June 3, 2008 and August 18, 2008. The IRS will waive the failure-to-deposit penalty for excise and employment deposits due during the period of June 3, 2008 through August 18, 2008, if such deposits were made by August 18, 2008.

For affected Illinois taxpayers, the relief extends until August 25, 2008 the deadlines for filing most returns and paying taxes otherwise due between June 1, 2008 and August 25, 2008. The IRS will waive the failure-to-deposit penalty for excise and employment deposits due during the period of June 1, 2008 through June 16, 2008, if such deposits were made by June 16, 2008.