Sandy Victims, Volunteers Get Tax Help

Last updated on November 13, 2012

Victims and volunteers of Sandy get tax assistance from the IRS. Tax relief is being given to victims of Hurricane Sandy that fall under the Presidential Disaster Areas. After an assessment of the destruction caused by Sandy, more areas can be included in the Presidential Disaster Areas. Taxpayers in Connecticut, New York and New Jersey can now file taxes till February 1, 2013.

Any taxpayer that falls under the declared disaster areas automatically gets extension for filing of taxes. Penalties are waived. If your home or business has been damaged by Sandy, you might file an amendment to your 2011 taxes to claim a loss. You can treat losses caused by Sandy as if they happened last year. You can reduce your last year’s income and get quick tax refunds.

Volunteers affiliated with IRS-recognized government or philanthropic organizations helping distribute supplies in disaster areas also get extension to file taxes. They can now file taxes till Feb 1, 2013.

Those who want to donate to the victims of Sandy can receive tax benefits. If you make a cash donation to a qualified 501(c)3 organization and get a receipt, you are eligible to get tax benefits.

The government could offer more tax breaks to the victims of Hurricane Sandy. At the time of Katrina, Congress provided tax breaks apart from what the IRS offered. To get the latest on the tax help the IRS is offering to victims and volunteers of tax help, taxpayers can visit their website.