Relief for Victims of Hurricane Florence

The IRS has provided tax relief for victims of Hurricane Florence residing in parts of North Carolina. The relief postpones various tax filing and payment deadlines that occur on or after September 27th, 2018. If you were impacted by this storm, you may have until January 31st, 2019 to make tax payments and file your income and quarterly payroll tax returns. Some states are also providing special tax relief because of this storm. Contact us for more information.

Tips for Reconstructing Records after a Disaster
In the aftermath of a disaster like a hurricane, you may need to reconstruct certain records which were destroyed. This may be essential to file your tax return, get federal assistance, or receive an insurance reimbursement. Below are some tips to help you with this process:

  • Use the “Get Transcript” tool on or call (800) 908-9946 to order a free transcript of your tax return, which will be sent by mail to your last known address.
  • Take pictures or video to establish the extent of the damage as soon after the disaster as possible.
  • Review your insurance policy to try to obtain a value of your home for replacement purposes.
  • Check the county assessor’s office when no other records are available to establish your property’s value.
  • If you recently made home improvements, contact the contractors to see if records are available.
  • To determine the FMV of your vehicle, check Kelley’s Blue Book, National Automobile Dealers Association, or Edmunds.
  • Check your phone for pictures of your home before the disaster. The IRS recommends taking pictures of the contents of a house or business, with a focus on high-value items to help support insurance claims or claims for tax benefits.
  • If pictures and videos are unavailable, sketch pictures of each room of your home that was impacted.
  • Contact your credit card company or bank for past statements. Consider cloud-based backup services to store records like bank statements, family photos, and other files outside of your home. The IRS even recommends storing copies of documents with a family member or trusted friend somewhere outside the area that may be affected by the disaster.
About Padgett Team

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