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Disasters, natural and financial

A mix hurricane and fiscal news were the featured topics last week at my other tax blog.

Bankrate Taxes Blog iconHurricane Sandy kicked off the week, making landfall on Oct. 29 in New Jersey.

The Garden State took the brunt of the storm, but New York also was hard hit.

Memories of botched reaction to Katrina's assault on New Orleans, not to mention an election in a few days, led to quick reaction by the federal government.

Several counties in New Jersey and New York were declared major disasters on Oct. 30. That meant that affected residents get federal assistance, as well as some special tax treatment.

Meanwhile, much of the rest of the country also was keeping track of the impending financial crisis we could face on Jan. 1, 2013.

A group of corporate executives previously signed an open letter urging Congress to deal with the federal debt, even acknowledging that some tax hikes might be needed.

But some folks don't believe the CEOs are sincere about their companies (or themselves) taking some tax hits.

You can always check out my other tax posts over at Bankrate Taxes Blog, usually each Tuesday and Thursday. If you happen to miss them then, you'll find a summary here the following weekend.

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