Federally Declared Disaster Tax Relief

§ 7508A. Authority to postpone certain deadlines by reason of Federally declared disaster, significant fire, or terroristic or military actions(a) In generalIn the case of a taxpayer determined by the Secretary to be affected by a federally declared disaster (as defined by section 165(i)(5)(A)), a significant fire, or a terroristic or military action (as defined in section 692(c)(2)), the Secretary may specify a period of up to 1 year that may be disregarded in determining, under the internal revenue laws, in respect of any tax liability of such taxpayer—(1) whether any of the acts described in paragraph (1) of section 7508(a) were performed within the time prescribed therefor (determined without regard to extension under any other provision of this subtitle for periods after the date (determined by the Secretary) of such disaster, fire, or action), (2) the amount of any interest, penalty, additional amount, or addition to the tax for periods after such date, and (3) the amount of any credit or refund. (b) Special rules regarding pensions, etc.In the case of a pension or other employee benefit plan, or any sponsor, administrator, participant, beneficiary, or other person with respect to such plan, affected by a disaster, fire, or action described in subsection (a), the Secretary may specify a period of up to 1 year which may be disregarded in determining the date by which any action is required or permitted to be completed under this title. No plan shall be treated as failing to be operated in accordance with the terms of the plan solely as the result of disregarding any period by reason of the preceding sentence. (c) Special rule for State-declared disasters(1) In generalThe Secretary (after consultation with the Administrator of the Federal Emergency Management Agency) may, upon the written request of the Governor of a State (or the Mayor, in the case of the District of Columbia), apply the rules of subsections (a) and (b) to a qualified State declared disaster in the same manner as a disaster, fire, or action otherwise described in subsection (a). (2) Qualified State declared disasterFor purposes of this section, the term “qualified State declared disaster” means, with respect to any State, any natural catastrophe (including any hurricane, tornado, storm, high water, winddriven water, tidal wave, tsunami, earthquake, volcanic eruption, landslide, mudslide, snowstorm, or drought), or, regardless of cause, any fire, flood, or explosion, in any part of the State, which in the determination of the Governor of such State (or the Mayor, in the case of the District of Columbia) causes damage of sufficient severity and magnitude to warrant the application of the rules of this section. (3) StateFor purposes of this section, the term “State” includes the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands.