Do you know that Hurricane Irma changed some of the tax laws in our community?
Following Hurricane Irma, the President declared that a major disaster existed in the state of Florida and the IRS announced that affected taxpayers will receive tax relief to help alleviate some of the stress due to the recent disasters. Some key highlights include: tax filing postponement deadlines, EITC income look back, retirement funds access, deducting casualty losses. Individuals may deduct personal property losses that are not covered by insurance or other reimbursements.
As you repair the damage, the last thing you want to think about is your taxes. However, you may be eligible to claim a casualty loss tax deduction and relieve some of the financial burden associated with a disaster.
Eligibility is determined by many factors including the location of your residence, business or other property. If you reside or own property in a presidentially-designated disaster area or zone you may be eligible for additional benefits. The best way to determine your eligibility is to set an appointment with an H&R Block Tax Professional.
Navigating the documentation and the tax relief available to you can be overwhelming. H&R Block is here to help. Visit our local office at 3224 Rolling Oaks Blvd, West Kissimmee.
Call today 407-396-1040.