Jon Holbrook Speaks to Bloomberg Tax About Final IRS Disaster Relief Rules

IPB associate Jon Holbrook spoke to Bloomberg Tax for the article "IRS Makes Few Tweaks in Final Disaster Tax Relief Rules." This week the IRS released final rules clarifying what defines a "federally declared disaster," and describing how Section 7508A(d) affects filing deadlines for individuals living in, injured or killed in a federally declared disaster area, as well as for businesses and relief workers operating within the area. These final rules hew closely to those the IRS previously proposed in January.

"Jon Holbrook, an associate at Ivins, Phillips & Barker Chartered, and Keith Fogg, a professor at Harvard Law School, said Thursday they weren’t surprised by the lack of changes in the rules.

Holbrook said he hopes Congress takes the rules “as an invitation” to amend the statute and reaffirm that Section 7508A(d) relief periods are automatic and not subject to the government’s discretion."

Along with IPB partner Spencer Walters, Jon submitted comments on the 7508A(d) rules to the IRS earlier this year.