Recent Hurricanes Harvey and Irma left many in distress. In addition to the need for resources to help in the recovery, tax considerations exist. For example, is aid taxable, what about insurance recovery, what if you pull money from your retirement account, what if employees give up leave so their employers can donate it to relief efforts? Tax returns and taxes are due, but most are extended to January 31, 2018. Some taxpayers might not be directly affected, but have records lost in the disaster.
The IRS has lots of information to help -
here +
Pub 547.
COST and the AICPA have a list of information from
state tax agencies about
state relief.
The AICPA has information for tax practitioners:
And here is information from
Consumer Reports on how to help victims of the hurricanes.
source
http://21stcenturytaxation.blogspot.com/2017/09/disaster-relief-tax-links.html
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