Most people know that victims of disasters such as storms, wildfires or floods may get tax relief from the IRS. But do you know what must happen first? The area must be declared a major disaster by the Federal Emergency Management Agency (FEMA). Taxpayers in a FEMA-declared disaster area automatically get more time to file returns and pay taxes and may qualify for casualty loss deductions. They may also apply for government loans after tax returns have been filed. Taxpayers can get copies or transcripts, if necessary, from the IRS. Those who temporarily relocate after a disaster should notify the IRS of their new address using Form 8822, “Change of Address.” For more: https://bit.ly/3hzODO1
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