IRS Tax Tip 2023-63 May 8, 2023
Rebuilding after a natural disaster can be overwhelming. Important documents like financial information and tax records are often destroyed in a disaster, and reconstructing these records is important for applying to federal assistance and insurance reimbursement. IRS.gov has the information disaster victims need, including disaster-related filing extensions and information about tax relief.
These IRS.gov webpages have tax-related disaster relief information:
- Reconstructing Records After a Natural Disaster or Casualty Loss: This webpage helps who need to reconstruct their financial records after a disaster. This may be essential for properly documenting a tax-deductible loss, supporting various tax-related transactions or getting federal assistance or insurance reimbursement.
- Tax Relief in Disaster Situations: This page features links to resources that walk people through information that will help them after a disaster. It also links to local news releases and frequently asked questions.
- IRS News From Around the Nation: This page rounds up news about local areas, including disaster relief and tax provisions that affect certain states.
- Frequently Asked Questions for disaster victims: This resource links to pages with answers to questions that victims may have. Each page highlights a specific topic to help people after a disaster.
These IRS publications can also help taxpayers:
- Publication 3067, IRS Disaster Assistance – Federally Declared DisasterPDF provides information to individuals and businesses affected by a federally declared disaster. It also covers the assistance available to disaster victims.
- Publication 584, Casualty, Disaster and Theft Loss Workbook helps individual taxpayers figure their loss on personal-use property in the event of a disaster, casualty or theft.
- Publication 584-B, Business Casualty, Disaster, and Theft Loss Workbook helps businesses figure their loss on business and income-producing property in the event of a disaster, casualty or theft.
- Publication 547, Casualties, Disasters and Thefts explains the tax treatment of casualties, thefts and losses on deposits.