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Disaster Assistance and Emergency Relief for Individuals and Businesses
When a catastrophic event occurs, IRS authority to provide additional relief* is triggered if a Federal Disaster Declaration provides for Individual Assistance. In that case information about relief specific to those affected by the event will be posted to the IRS home page at www.irs.gov and to the page linked above at “Tax Relief in Disaster Situations.” The IRS will also issue News Releases summarizing the event specific relief.
* Relief over and above what is generally available.
In most
cases of a
catastrophic
event,
specific tax
relief
provided to
those
affected
will
include:
-
Postponement
of
filing
and
payment
due
dates
for
individuals
and
businesses,
-
Expedited
service
and fee
waivers
for
those
needing
to
recreate
financial
records,
-
Stand up
of the
IRS
Disaster
Assistance
hotline,
-
IRS
staff at
Recovery
Centers
to help
with all
tax
issues
including
individual
and
business.
IRS Disaster Assistance Information
Special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster, especially when the federal government declares their location to be a major disaster area. Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes. Both individuals and businesses in a federally declared disaster area can get a faster refund by claiming losses related to the disaster on the tax return for the previous year, usually by filing an amended return.
Related Publications
Publication 1600, Disaster Losses - Help from the IRS (PDF)
General information brochure highlighting federal tax treatment of disaster losses for individuals and business owners. An excellent first step toward learning what federal tax relief is available following a disaster.
Publication 547 – Casualties, Disasters and Thefts
Publication 547 explains how to treat casualties, thefts, and losses on deposits. It discusses definitions, how to figure gain or loss, how to treat reimbursements, and how to report them.Form 1040X, Amended U.S. Individual Income Tax Return (PDF)
Publication 584, Casualty, Disaster and Theft Loss Workbook (PDF). Also available in HTML
Publication 584B, Business Casualty, Disaster and Theft Loss Workbook (PDF). Also available in HTML
Publication 2194, Disaster Losses Kit for Individuals (PDF)
Publication 2194B, Disaster Losses Kit for Businesses (PDF)
Publication 3067 (English/Spanish) (PDF)
Publication 3833, Disaster Relief: Providing Assistance through Charitable Organizations (PDF)
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