After Sandy: Disaster Assistance and Emergency Relief

Special tax law provisions may help taxpayers and businesses recover financially from the impact of Sandy, or any major disaster, especially when the federal government declares their location to be a 'major disaster area.' Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes. Both individuals and businesses in a federally declared disaster area can get a faster refund by claiming losses related to the disaster on the tax return for the previous year, usually by filing an amended return.

Team PaycheckCityNov 20, 2012

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