Tag Archives: charity

Natural Disaster Relief: Hurricane Florence

What does the IRS do to help with natural disaster relief?

We just watched Hurricane Florence slam the Carolinas, and last year’s hurricane season between Hurricane Harvey, Hurricane Irma and Puerto Rico’s Hurricane Maria were devestating. The last several years the IRS has typically acted to provide taxpayer relief for natural disasters such as hurricanes Kartina and Rita, the 2014-2015 record snow fall in New England, the 2010 New England floods, Hurricane Sandy, Hurricane Matthew, the Ebola Outbreak in 2014, and the 2010 Hatian earthquake. As you read this you would think we were facing the end, but thank goodness there has been help from the IRS. The typical measures often include delaying various filing deadlines, delating various payment deadlines, loosening rules for write offs for damage, and allowing for certain charitable contributions.

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Tax Reform and Your Taxes

Well, the Tax Cuts and Jobs Act (H.R. 1) has passed, mainly starting in 2018. Are you confused by tax reform and your taxes, and how this new law will impact you? You’re not alone. As has become the norm for Congress, it played brinksmanship and waited to almost the end of the year, in the midst of the holidays, to pass this very extensive tax bill, providing little time for anyone to plan for 2018.

So that you have an idea about how these changes might affect individual taxpayers like yourself, we have put together some of the key points of the new law. As a suggestion, pull out your 2016 federal return and follow along to get a better understanding of these changes. Continue reading

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Natural Disaster Relief: Hurricanes Harvey, Irma

What is the IRS doing to help with natural disaster relief?

We are getting hit with a one-two punch this hurricane season between Hurricane Harvey, Hurricane Irma and who knows what else will hit. The last several years the IRS has typically acted to provide taxpayer relief for natural disasters such as hurricanes Kartina and Rita, the 2014-2015 record snow fall in New England, the 2010 New England floods, Hurricane Sandy, Hurricane Matthew, the Ebola Outbreak in 2014, and the 2010 Hatian earthquake. As you read this you would think we were facing the end, but thank goodness there has been help from the IRS. The typical measures often include delaying various filing deadlines, delating various payment deadlines, loosening rules for write offs for damage, and allowing for certain charitable contributions.

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