Category Archives: Disaster Recovery

Scam Alerts: Hurricane Charities and Ransomware

danger aheadWhile The IRS, state tax agencies and numerous people in the tax and accounting industry are working together to warn tax professionals and their clients about phishing scams, they are still all too common. Here’s what you need to know about the two most recent scams: fake charities that take advantage of people’s generosity during times of natural disasters and IRS/FBI-themed ransomware. Continue reading

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Tax Tips for Those Affected By Natural Disasters

hurricane imageEvery year, hurricanes, tornadoes, floods, wildfires, and other natural disasters affect people throughout the US. The bad news is that recovery efforts after natural disasters can be costly. For instance, when hurricanes strike they not only cause wind damage but can cause widespread flooding. Many homeowners are not covered for damage due to flooding because most standard insurance policies do not cover flood damage. Fortunately, tax relief is available–but only if you meet certain conditions. For business owners and self-employed individuals who may owe estimated taxes, for example, the IRS typically delays filing deadlines for taxpayers who reside or have a business in the disaster area. Continue reading

When Disaster Strikes

disaster city, apocalyptic scenery, illustration digital paintingSpecial 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. With hurricanes, floods, and other natural disasters impacting so many homeowners and businesses throughout the US this year, here is some useful information about disaster-related tax relief that taxpayers should know about: Continue reading