Harris County Delared a Federal Disaster Area Allowing for IRS and FEMA Assistance
Posted on June 1st, 2015 in Uncategorized
We hope that everyone is safe and well after the recent storms that have hit our area. If you have been effected by the recent storms and resulting flooding our hearts go out to you and your family. On May 30th FEMA reported that Harris, Hays, and Van Zand counties have been declared federal disaster areas. As a result federal programs are now available to assist with grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses, and other programs to help individuals and business owners recover from the effects of the disaster.
The IRS also has special tax law provisions that can help taxpayers and businesses recover from a disaster, especially when the area is declared a federally disaster area. Depending on the situation, the IRS can grant additional time to file returns and pay taxes. Individuals and businesses in a federally declared disaster area can get a faster refund by claiming losses related to the disaster on the tax return for the previous year by filing an amended return.
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About the Author – Phillip Zagotti, CPA is the President of Zagotti and Burdette CPA, LLC. He can be reached at firstname.lastname@example.org or (832) 800-3347.