On August 28, 2017, the IRS announced that victims in the 18 Texas counties affected by Hurricane Harvey will have certain protections afforded them.
The protections specifically consist of
- Victims will have until Jan. 31, 2018 to file certain individual and business tax returns and make certain tax payments.
- Revenue Procedure 2014-49 also provides temporary relief from certain Tax Credit Program requirements for both agencies and owners of such properties.
- HUD also announced that it will provide assistance by working with state and local officials to streamline development of Community Development Block Grant (CDGB) and HOME funds to repair and replace damaged housing, offering Section 108 loan guarantee assistance, granting immediate foreclosure relief, making mortgage insurance available and making insurance available for mortgages and home rehabilitation.