From the California Society of Enrolled Agents: Tax Advice for Fire Victims
October 27 2003 - 11:01PM
PR Newswire (US)
From the California Society of Enrolled Agents: Tax Advice for Fire
Victims SACRAMENTO, Calif., Oct. 28 /PRNewswire/ -- As devastating
fires continue to sweep through southern California, the California
Society of Enrolled Agents has important information to assist
taxpayers. In locations officially declared disaster areas by the
federal government, taxpayers may file an amended 2002 tax return
and include the disaster losses as if they occurred last year.
Resulting claims for tax refunds will be processed immediately,
providing direct financial aid to fire victims. It's crucial,
however, for residents who suffer business or personal property
damage during the fire to take immediate action to document losses
for insurance and tax purposes. The documentation process does not
need to be difficult or complex. "What's important is that people
take pictures and do a complete property inventory as quickly as
possible," according to Enrolled Agent Jeremy Streeter, EA who
chairs CSEA's Public Disaster Service Subcommittee. "A month from
now, people are not going to remember what they threw away." To
help victims organize a written inventory, CSEA has prepared a
Disaster Recovery fact sheet. It's available online at
http://www.csea.org/ (click on Taxpayer Help to find it). You can
also obtain a copy of this and other pertinent information at no
charge by sending a self-addressed stamped envelope to Disaster
Recovery, CSEA, 3200 Ramos Circle, Sacramento, CA 95827. Mr.
Streeter also recommends Internal Revenue Service Publication 584,
Casualty and Disaster Loss Workbook, which can be downloaded from
the CSEA website or http://www.irs.gov/. Once it is safe to return
to the affected areas, all damage should be documented by videos,
photographs, and/or written inventory before it is cleaned up or
thrown away. Affected property can include buildings and
foundations, automobiles, business inventories, and personal
property such as furniture, dishes, and clothing. Watch local news
for free Disaster Relief Workshops put on by local Enrolled Agents.
Enrolled Agents are licensed by the federal government to represent
taxpayers and assist them with tax planning and preparation. You
can reach an Enrolled Agent in your area by calling (toll free)
800/777-TAXPRO-5, or online at http://www.csea.org/. DATASOURCE:
California Society of Enrolled Agents CONTACT: Clifford Weimer or
Catherine A. Apker, CAE, both of the California Society of Enrolled
Agents, +1-800-777-2732 or +1-916-366-6646, or Web site:
http://www.csea.org/
Copyright