Tax Relief For Victims Of Hurricane Ida
The last thing you need after a natural disaster is to worry about your taxes. If you are a victim of Hurricane Ida, there are tax relief options available for you. It is crucial to be informed on the options offered to you so you can make an informed decision on how to handle your situation in light of this event.
The IRS has declared that victims in the state of Louisiana and parts of Mississippi can begin receiving payments. To do so, take the following steps:
Make a claim for a tax deduction for property that has been damaged or lost. You can claim the loss next year when you file your taxes, or you can claim it now by amending your 2020 tax return.
Fill out an application for an SBA Grant Loan. Disaster victims might apply for a loan or a grant. This is money that belongs to a business owner, or a group of business owners, or if you're a renter.
Make sure the IRS has your current address. It's critical that you change your address with the IRS so that relief can be sent to you.
On top of the extended filing and payment deadline for those victims of Hurricane Ida to January 22, 2022, you can receive tax debt relief. The IRS Fresh Start Program is an effective way to take control of your tax situation. This program is not exclusive to only the families and individuals in Louisiana, in fact, it's available nationwide. This program offers a variety of solutions for taxpayers who are struggling with unpaid taxes, and ensures that you will not be penalized or face additional penalties if you qualify for the program. So what are you waiting for? The time to begin this process is now!
See if you qualify for the Fresh Start Program today!
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