When the IRS Can Offer Disaster-Related Tax Relief

The last few years have seen an ever increasing number of devastating natural disasters in the U.S. Whether they take the form of hurricanes, winter storms, or wildfires, the results often have catastrophic consequences for those who live and work in the affected areas. In an effort to help these individuals, the IRS works closely with other federal agencies to offer tax relief to affected taxpayers and businesses. Read on to learn more about when this relief kicks in.

Administrative Tax Relief 

The IRS offers tax relief in situations where:

• The Federal Emergency Management Agency (FEMA) issues a major disaster declaration offering “Individual Assistance”; or
• The U.S. President signs an emergency measures declaration.

In these cases, affected households can apply directly to the government for financial and direct services and the IRS will begin offering administrative tax relief to the areas listed. These measures give individuals and businesses extra time to file their returns, pay taxes, and meet other tax deadlines when they have been affected by a federally declared disaster.

Eligibility for Tax Relief 

To be eligible for disaster-related tax relief, a person or business must fall under one of the following categories:

• Someone whose principal residence is in a covered disaster area;
• Companies whose principal place of business is in a disaster area;
• Relief workers affiliated with a government, non-profit, or charitable organization who are tasked with providing assistance in a disaster zone;
• Individuals whose tax records are located in a disaster area; and
• Individuals visiting a covered disaster area and who were injured or killed as a result.

If you believe that you and your family are eligible for disaster-related tax relief, don’t hesitate to call our office to learn more about qualifying.

2024 Federally Declared Disasters 

Although we are not yet halfway through 2024, our nation has already been rocked by a series of devastating natural disasters for which the IRS has offered relief, including to those affected by:

• Severe storms, straight-line winds, tornadoes and flooding in Oklahoma;
• Severe storms and flooding in Maine and Rhode Island;
• Wildfires in Hawaii;
• Severe storms, landslides, and mudslides in Alaska;
• Wildfires in Washington;
• Severe storms and flooding in California;
• Severe storms, tornadoes, and flooding in Michigan;
• Severe storms, flooding, landslides, and mudslides in West Virginia; and
• Severe storms, flooding, and dam breach in Connecticut.

Finally, taxpayers who were affected by the terrorist attacks in Israel may also qualify for tax relief. All of these disasters left thousands of people stranded, without power, and often, with their homes and businesses destroyed. Tax relief measures offered by the IRS can go a long way towards helping victims begin the recovery process.

Our Legal Team is Standing By 

Skilled CPA, former FBI Special Agent, and dedicated Florida tax & IRS attorney Ronald Cutler, P.A. has over 50 years of experience dealing with a variety of tax matters, including eligibility for tax relief. Let us put our resources and experience to work in your own case and schedule an initial case review with us by calling our office at 386-490-9949 today.

Sources: 

fema.gov/disaster

irs.gov/newsroom/understanding-when-irs-can-offer-disaster-related-tax-relief-special-tax-provisions-kick-in-for-individuals-and-businesses-impacted-by-federally-declared-disasters