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Hurricane Gustav tax watch

The IRS is among the millions of us tracking Hurricane Gustav. As I write, the storm is a Category 4 monster and is heading for the western half of Louisiana's coast.

Gustav2_083108_2_2 Tax officials have announced that they will, if necessary, provide tax relief to affected areas. That typically includes extension of deadlines and the ability to get special tax relief to help cover some of your damage costs. I've blogged about this it seems like a gazillion times, but if you need a refresher, check out this post.

As for the areas that might be eligible for the special tax treatment, the Federal Emergency Management Agency has a hurricane response page that provide the latest info on areas hit by all types of natural disasters.

Several Florida counties were recently designated as presidential disaster areas after Fay swept through the Sunshine State. I suspect more such declarations will come on the heels of Gustav and possibly Hanna, who's been taking advantage of the Gulf focus to maybe sneak up on, yes, Florida.

And although time is short, you also need to take steps now to protect your tax and financial records. The IRS has some advice here, and more info can be found in this previous post. You might want to check out these insurance tips for storm victims, too, just in case.

Comments

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Johnnie

Death and taxes -- the two certainties in the world. demonstration that climate change is with us now... perfect storm and perfect timing -- to ensure the Presidential hopefuls don't forget global change issues. Rotten timing and worse trajectory for those just back in New Orleans. The truth is -- this city is part of the triage decisions on climate we are already making. Triage is applied in an emergency to allow the most globally beneficial use of inadequate resources. There will be severe climate disruptions, which will be left untreated because they will be recognized as able to recover autonomously. Selected climatically-induced emergencies where tax-payers’ money can reduce suffering will be funded. Last, and most sadly, there may be even situations where unlimited funds cannot reverse impacts and the limited funds are deemed better deployed on other projects. See www.climatechangetriage.net

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