IRS Creates Tax Hotline For BP Oil Spill Victims

9th Jul 2010 15:26

By Shayndi Raice Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Taxpayers affected by the Gulf Coast oil spill are eligible for flexible tax payment options if they call an Internal Revenue Service hotline, the federal agency said Friday. Victims who call the hotline are eligible for a suspension of tax collection or examination actions. Taxpayers who request a suspension, however, will still be required to pay interest on outstanding balances. The IRS is also offering victims additional flexibility for missed payments and compromise offers to taxpayers with a clean payment history. The IRS also announced that it will set up shop in seven cities affected by the BP PLC (BP) oil spill to offer taxpayers direct access to federal employees who can work to resolve tax issues related to the oil spill. The IRS's Gulf Coast Assistance Day will take place in Mobile, Ala.; Panama City and Pensacola, Fla.; New Orleans, Houma and Baton Rouge, La.; and Gulfport, Miss. The IRS hotline number is 866-562-5227. -By Shayndi Raice, Dow Jones Newswires; 202-862-9291; [email protected]. (END) Dow Jones Newswires July 09, 2010 10:26 ET (14:26 GMT)