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Hurricane Tax Relief

How do you get hurricane tax relief?

300x200If your home has been damaged or your family has been displaced by a hurricane, taxes are probably the last thing on your mind – at least, until you see your filing deadline on the horizon. As you’re figuring out how to declare your losses, you’ll probably wonder: Can I get some kind of relief from this? First, we should point out that, from the IRS’ perspective, hurricane tax relief falls under the broader subject of natural disaster tax relief. When a natural disaster strikes, the IRS doesn’t generally extend a blanket tax credit to victims. Instead, it may implement relief procedures to lower the tax burden on people who were affected by a storm, flood, hurricane or related event. While there’s no one-size-fits-all tax relief plan for every natural disaster, there are a few things that the IRS generally offers to disaster victims to provide some assistance during a tough year. One common form of tax relief won’t affect your refund or how much you owe, but can give you more time to recover and sort through the damage before filing.