Bill 119 hr 1491, also known as the Disaster Tax Relief Act of 2021, aims to amend the Internal Revenue Code of 1986 in order to make certain deadline postponements applicable to the limitation on credit or refund. This bill also seeks to take into account any postponements due to disasters when sending collection notices.
The main purpose of this legislation is to provide relief to taxpayers who may have been affected by natural disasters or other emergencies that have caused delays in meeting tax deadlines. By allowing for these postponements and taking them into consideration when sending collection notices, the bill aims to alleviate some of the financial burden on individuals and businesses who may be struggling to meet their tax obligations due to unforeseen circumstances.
Overall, the Disaster Tax Relief Act of 2021 seeks to provide flexibility and support to taxpayers during times of crisis, ensuring that they are not unduly penalized for circumstances beyond their control.
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