lost w-2's, 1099'setc

[mona l]

due to current flooding in ND (declared disaster state) client lost all withholding statements 1099's etc....cannot retrieve before deadline........ what are IRS rulings on this predicament...what was usual during past disasters? Any answer would be appreciated
Thanks
His W-2's etc. not any he issued....planned on extension and hoped to have all by due date ....just wondering if they have any other alternatives such as reducing penalties or interest beyond that thanks for ur attention

[Koss]

Lost records

The short answer is: Extension.

Does your client issue Form 1099 or Form W-2 to someone else? Or are we just talking about a client that lost documents that were sent to him by his employers and banks?

BMK

[travis bickle]

Effective March 25, 2009

President Obama declared the ND flood region a presidentially-declared disaster area.

Go to www.irs.gov and check on what "normally" happens [in terms of extensions] for presidentially-declared disaster areas. Also check the IRS website often, because they will come out with a special "ruling" for the ND disaster area [the do this for each disaster area, specifying such things as areas affected, dates, etc].

You might want to see if your client can get a transcript of his income documents. I realize it is very early to make such a request, but it MAY be possible to get them when an individual is in a disaster area and the local copies have been wiped out. If it turns out he can get them, have them faxed -- MUCH quicker.

Last, the ND website states that they will follow the federal guidelines for the disaster area, so that is another reason to be on top of the situation.