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Taxpayers Can Look to the IRS for Tax Help After a Disaster | Business

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Taxpayers Can Look to the IRS for Tax Help After a Disaster
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When a hurricane or other disaster strikes, the IRS wants taxpayers to know they can count on the agency for help.

Here are six resources taxpayers can access on IRS.gov:

  • Tax information about federally declared disasters. Special tax law provisions apply when the federal government declares a major disaster area. This relief can help victims recover financially after a disaster. For instance, the IRS may grant more time to file tax returns and pay tax.  
  • Information about faster refunds. Taxpayers may be able to get a faster refund from losses suffered in a federally-declared disaster area. Taxpayers can claim losses related to the disaster on the tax return for the previous year. They claim the loss by filing an amended return in most cases.  
  • Disaster declarations. Taxpayers can visit the Tax Relief in Disaster Situations page on IRS.gov. This page has a list of the latest disaster declarations and any related disaster tax relief.  
  • Disaster relief resources. The IRS has many resources to help those who provide disaster relief. The Disaster Relief Resources for Charities and Contributors.  
  • Around the Nation. The Around the Nation page provides local tax news, including disaster relief information that applies to specific areas.  

·         Making a plan. Taxpayers can check out the Preparing for a Disaster page on IRS.gov for information about prepping for a possible disaster in the future.

This information is not intended to be a substitute for specific, individualized tax advice as individual situations will vary.  Royal Alliance Associates, Inc., Georgetown Capital and its advisors are not engaged in rendering tax advice.

These links are provided as a convenience and for informational purposes only. We assume no liability for any inaccuracies, errors or omissions in or from any data or other information provided on the pages, or for any actions taken in reliance on any such data or information.

Prepared by the IRS.  For more information go to www.irs.gov.

Securities and investment advisory services may not be available in all states.

Representatives offer Securities and Advisory Services through Royal Alliance Associates, Inc., member FINRA/SIPC and a registered investment advisor.

Insurance services offered through Georgetown Capital Group, which is independent of Royal Alliance Associates, Inc. with separate ownership, and is not registered as a broker-dealer or investment advisor.

 Joseph V. Curatolo, President of Georgetown Capital Group

5350 Main Street, Williamsville, NY 14221

Phone #(716) 633-9800  Toll Free 1 (800) 648-8091  Fax #(716) 633-9789

www.georgetowncapital.com

 

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