NIH to extend grant application deadlines

The U.S. National Institutes of Health recently announced that organizations affected by Hurricane Sandy will be allowed to submit grant applications past their original deadline.

Late grant applications must include a cover letter explaining the reasons for the delay. In addition, the delay is not allowed to exceed the time period the applicant's organization was closed because of weather-related problems.

The U.S. Internal Revenue Service recently announced that it will extend payment deadlines for taxpayers in Connecticut, New York and New Jersey. Affected individuals and businesses now have until February 1, 2013, to file their returns and pay their taxes, according to the Associated Press.

Hurricane Sandy caused widespread devastation along the East Coast, causing potentially billions of dollars in damages and at least 90 deaths. The U.S. National Hurricane Center was able to accurately predict the path of the storm, increasing the time available for preparations.

Corporations are beginning to add up their losses from Sandy, which is expected to easily be one of the most expensive storms in the country's history. Companies such as Lowe's and Home Depot may benefit in the end as residents purchase materials for the rebuilding effort, according to the Washington Post.

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