Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

May/June 2020

Tax Help after Disasters

Tax Help after Disasters

When natural disasters disrupt our lives, the last thing we think about is our taxes. While you’ll still have to pay taxes and file tax forms, the IRS and many jurisdictions offer some assistance during these trying times.


Reconstruct Records
When a natural disaster destroys your federal tax records, the IRS has a number of ways to help you reconstruct them. Request help by mail or online at www.irs.gov. Be prepared to give identifying information, including your social security number, date of birth and mailing address from your latest tax return.


Check for Help
When the federal government issues a disaster declaration, the IRS generally offers extra time to file and pay taxes, and waives late filing and payment penalties. If you inadvertently receive a notice for late filing or payment during the grace period, call the IRS number on your notice to rectify the matter.


Plan Ahead
While no one wants to incur a loss due to a natural disaster, individual and business taxpayers may receive tax deductions for allowable losses. IRS publications 584 and 584-B are workbooks that can help identify and calculate casualty, disaster and theft losses to reduce your taxes. Consult your tax professional for help.


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