Disaster Recovery Resources

Disaster Recovery Resources

Help for Victims of Hurricane Irma – The IRS is providing help to the victims of Hurricane Irma. Special tax relief and assistance is available to taxpayers in the Presidential Disaster Areas. IRS is monitoring the situation closely to resolve potential tax administration issues as they are identified. For the latest news, check this page frequently.

Help for Victims of Hurricane Harvey – The IRS is providing help to the victims of Hurricane Harvey. Special tax relief and assistance is available to taxpayers in the Presidential Disaster Areas. IRS is monitoring the situation closely to resolve potential tax administration issues as they are identified. For the latest news, check this page frequently.

Code Section 7508A – Authority to postpone certain deadlines by reason of Presidentially declared disaster or terroristic or military actions (Source: Cornell University Law School, Legal Information Institute)

7508A-1 Regulations – Postponement of certain tax-related deadlines by reasons of a federally declared disaster or terroristic or military action. (Source: Cornell University Law School, Legal Information Institute)

Regulation 1.165-1 – Losses (Source: Cornell University Law School, Legal Information Institute)

Regulation 1.165-7 – Casualty losses (Source: Cornell University Law School, Legal Information Institute)

Regulation 1.165-11T – Election in respect of losses attributable to a disaster. (Source: Cornell University Law School, Legal Information Institute)

IRS Publication 584 Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property) Jerry's Loss Calculation Excel Worksheet for Publication 584

LDR Disaster Resources

Insurance Company Claims Filing Telephone Numbers

LCPA Tax Alerts – Be sure to reference our archive of federal and state Tax Alerts.

AICPA Tax Section – The AICPA Tax Section has unlocked important disaster-related content on aicpa.org in an effort to help tax practitioners prepare their clients and communities for the aftermath of Hurricanes Harvey and Irma.

Casualty Loss Practice Guide – The primary purpose of the Casualty Loss Practice Guide is to assist practitioners in dealing with certain tax problems that arise when a client is affected by a natural disaster. The guide discusses rules for casualty losses and deductions for involuntary conversions and provides information on relevant Internal Revenue Service (IRS) publications, as well as other useful material.

Financial Assistance for AICPA Members

The AICPA Benevolent Fund was established in 1933 by members of the American Institute of CPAs for the purpose of assisting AICPA members through temporary periods of financial difficulty. The Fund provides assistance with meeting daily subsistence (living) expenses, financial hardship brought on by natural disasters and medical and prescription expenses that exceed insurance coverage brought about by serious illness, an accident, or the death of the primary source of family income.

If you or someone you know are in need of assistance please direct them to the Benevolent Fund Resource Center on the AICPA.org site or call 866.527.2228.

Watch a short video on the Benevolent Fund by LCPA Member and President, AICPA Benevolent Fund Board of Trustees, Lonnie Stockwell, CPA.