In the small coastal town of Perry, Florida, the residents were no strangers to hurricanes. However, nothing could have prepared them for the wrath of Hurricane Helene. The storm made landfall with winds reaching 140 mph, leaving a trail of destruction in its wake.
Homes, which had stood for generations, are now a pile of debris. As people sifted through the remnants of their lives, they found solace in the community's resilience. Neighbors helped each other, sharing food, water, and stories of survival.
As people start to rebuild it’s time to remember the help is available beyond the promise of grants or other Federal or State fundings.
The Casualty Loss Program is a lifeline for those affected by federally declared disasters like Hurricane Helene. The program allows individuals to claim deductions for property losses on their federal income tax returns, providing much-needed financial relief, you can read more about it at https://www.irs.gov/taxtopics/tc515.
As you start to rebuild, remember to document your damage, take photographs, and compile receipts for any immediate repairs.
You should also consider taking advantage of the funding available to you immediately if you refile your last year’s taxes using form 4684. You can do this before you even get repair estimates for your home!
Yes, the Federal Casualty Loss Program allows you to use the damage because of a Hurricane this year to write it off against your last year’s taxes. That means you can get an immediate refund of all or part of your 2023 taxes today to help you with rebuilding.
The process is simple:
1. Use our free Recovery Estimator to find out how much money you can get back.
2. Order a Loss Report from Disaster Relief to get your pre and post valuation and substantiating Loss Report
3. Refile your last years taxes. If you’re not sure how to do this, we can suggest tax preparation in your area from Liberty Tax.
If you or someone you know has been affected by Hurricane Helene, it's essential to file for the Federal Casualty Loss program as soon as possible. Document all damages, keep receipts, and contact your tax professional for advice. This program can provide significant financial relief during these challenging times.
