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NC extends tax deadlines for victims of tornadoes

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RALEIGH, NC (AP) -- North Carolina's tax collectors are providing a break for victims of severe weekend weather who had yet to file their 2010 returns.

The state Revenue Department said Monday it will waive late filing and late payment penalties for people and businesses unable to file their return or pay their taxes because of the storms that killed 22 people on Saturday.

State law prevents the agency from waiving any interest assessed on overdue taxes, so the clock keeps ticking on that until payment.

The penalties will be waived until May.

Taxpayers must file an additional Form NC-5500 with their late payment or return. A tax agency spokeswoman says the late payment is only for storm victims, and auditors who find discrepancies can assess late payment.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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