Wednesday, February 20, 2013

Tax Relief for Disaster Victims

Were you or someone you know affected by the bad weather that swept through the area at the beginning of March last year? If so, you may qualify for tax relief -- that is, if you live in an area where a federal disaster has been proclaimed. And Hamilton County, TN received a Major Disaster Declaration on March 16, 2012 because of tornadoes, straight-line winds and flooding from the severe storms that hit us Feb. 29 to March 2, 2012.

Tax season is just starting to wind up, so it is probably a good time to note that losses from natural disasters may be deductible when you calculate your taxes, and you also might be eligible for a deadline extension. Zillow has more information.