Tax Tips for Those Affected by Hurricanes Helene and Milton

Last updated: October 22, 2024 8:31 pm

3 Min Read

🇪🇸 Leer la noticia original en español · Translated with AI from our original reporting in Spanish.

If important tax-filing documents were damaged, such as forms reporting your income, you can request a wage and income transcript from the IRS.

Contents

If important tax-filing documents were damaged, such as forms reporting your income, you can request a wage and income transcript from the IRS.

With TurboTax, there’s no need to worry.
The IRS provided updates on disaster relief extensions, and TurboTax is here to help you understand extension deadlines and available tax benefits.

Tax tips since nearly everything can be tracked digitally, disaster victims can track deductible expenses by reviewing online bank statements and downloading documents from beneficiary websites.

Publicidad: trytransitnow.com (importado)

With TurboTax, there’s no need to worry.

You can automatically import your W-2 and 1099 information directly from your financial institution. TurboTax partners with hundreds of payroll providers and financial institutions, allowing your information to be imported automatically, eliminating paper documents and manual entry.

When considering rebuilding and making home improvements before insurance reimburses you, keeping receipts for paid expenses to repair your home will help calculate replacement costs.

If you claim a casualty loss and later receive insurance reimbursement, you must report the reimbursed amount as income.

You can claim a deduction for casualty losses for damage to your property caused by a federally declared disaster. You can claim this deduction on your current year’s tax return or on the previous year’s return by filing an amended return.

Publicidad: treasurecoasttoyotaofstuart.com (importado)

Tax tips for those affected by Hurricanes Helene and Milton — *TurboTax is here to help you file your taxes before the final deadline.*

The IRS provided updates on disaster relief extensions, and TurboTax is here to help you understand extension deadlines and available tax benefits.

We’d be happy to answer any questions or schedule an appointment for you to speak with Lisa Greene-Lewis, a certified public accountant and TurboTax tax expert, to address any questions you may have and help inform your readers on how to prepare.

We’re pleased to share more about TurboTax’s offerings to assist those who need to file their taxes after a natural disaster and how TurboTax Full Service can connect those in your area with a local tax expert to navigate filing in the new year.