Remember tax breaks as you recover from a natural disaster
If
you live in a federally declared disaster area, you may qualify for extended
due dates for filing returns and paying certain taxes. Under new rules, you
also have more time to decide whether to claim a loss from a disaster on your
prior-year federal income tax return. In addition, businesses may be able to
allow employees to take hardship distributions from retirement plans, and
participate in leave-sharing programs. Individuals, businesses, and estates and
trusts who are affected by natural disasters such as hurricanes, floods, and
other storms are generally eligible for disaster relief. Contact us for more
information
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