After tornadoes ripped via Texas, Oklahoma, and Louisiana, these states had been declared a state of emergency. In the event you had been impacted by the current tornadoes, we wish you to know TurboTax is right here to maintain you updated with necessary tax reduction data which will provide help to on this time of want.
Sometimes as soon as FEMA designates an space as a federal catastrophe, the IRS gives reduction within the type of prolonged tax deadlines and different tax reduction. Whereas the Federal Emergency Administration Company (FEMA) has but to declare the current occasions as a catastrophe and the IRS has not launched a press release on particular reduction efforts for victims in Texas, Oklahoma, and Louisiana, it’s potential that they may accomplish that within the coming days.
Verify again with the TurboTax weblog for the freshest data on tax reduction for victims of the current tornadoes. As data develops and we obtain particulars on potential localities which may be eligible for tax reduction we’ll present updates.
In the event you had been a sufferer of the current pure disasters or earlier ones examine right here for extra Tax Advantages for Accessible for Victims of Pure Catastrophe.
If you’re not a sufferer, however you’re trying to assist these in want, it is a nice alternative to donate or volunteer your time to reliable 501(c)(3) not-for-profit charities who’re offering reduction efforts for twister victims.
Verify again with the TurboTax weblog for extra updates on catastrophe reduction.
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TurboTaxKat (26 Posts)
Katharina Reekmans is an Enrolled Agent and a contributor to the TurboTax Weblog group. Katharina has years of expertise in tax preparation and illustration earlier than the IRS. Her passions encompass monetary literary and tax regulation interpretation. She has a powerful dedication to utilizing all sources and information to greatest serve the curiosity of shoppers. Katharina has labored as a senior tax accountant, operations supervisor, and controller. Katharina prides herself on unraveling tax legal guidelines in order that the common particular person can perceive them.
