With hurricane and tropical storm season here, it’s a good time to review possible tax relief for victims. The IRS offers several types of tax relief for individuals and businesses affected by hurricanes or other federally declared disasters. For example, victims often get extensions to file tax returns and pay taxes. They may also be eligible to claim casualty loss deductions on their tax returns for uninsured or unreimbursed disaster losses. The IRS typically announces relief for victims on its website following a disaster. The IRS also has a disaster relief publication: https://bit.ly/4chVGo3
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