Impacted by “Wildfires”? Special Tax Relief may be available! Our thoughts and prayers are with you.

Federal Tax Relief

The tax law may help you recover financially from a disaster, especially if you are located in a presidentially declared major disaster area. Depending on the circumstances, the IRS may give you additional time to file your return and pay taxes. Also, individuals and businesses in a presidentially declared disaster area can get a faster refund by claiming losses related to the disaster on the previous year's tax return, usually by filing an amended return.

Click here for more information:

https://www.irs.gov/newsroom/tax-resources-for-disaster-victims

California State Tax Relief

Special tax relief is available from the Franchise Tax Board for taxpayers directly affected by wildfires declared as state of emergencies. Relief may include waiver of penalties and interest for those who owe, additional deductions for disaster loss, and free replacement copies of returns lost due to disasters. 

Click here for more information:

https://www.ftb.ca.gov/individuals/disaster.shtml

For assistance contact me at:  steve@stevesimsea.com