a-01-112.pdf

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# Part IV - Items of General Interest

# Redesignation of Estimated Income Tax Payments

Announcement 2001-112

Many taxpayers have informed the Internal Revenue Service (IRS) that their income
for the current year will be substantially less than previously expected because of
economic disruptions resulting from the September 11, 2001 Terrorist Attack. Some
taxpayers who made estimated income tax payments now believe their tax liability for
their current taxable year will be lower than the sum of the estimated tax payments they
have already made. Several of these taxpayers have asked whether the IRS will permit
them to redesignate their estimated income tax payments, in whole or in part, as
deposits to satisfy their obligations to deposit employment and withheld income taxes.

This announcement clarifies that the IRS will permit the redesignation of estimated
income tax payments as tax deposits to satisfy obligations to deposit employment taxes
imposed by chapters 21, 22, and 23 of the Internal Revenue Code, and income taxes
withheld under chapter 24. To make this redesignation, a taxpayer should contact the
IRS through its Disaster Relief toll-free telephone number 1-866-562-5227.

Taxpayers who wish to redesignate their estimated tax payments should keep in
mind their estimated income tax obligations. If, as a result of the redesignation, the
amount of estimated tax payments is reduced below the amount required to satisfy the
taxpayer's estimated income tax obligation, the taxpayer may be liable for additions to
tax under section 6654 or 6655.