Tax Information on Disaster Relief - Massachusetts Society of CPAs

The AICPA Tax Teams have compiled comprehensive information about disaster relief and the effects on tax filing and tax planning to help practitioners.

Here are some resources to help you answer members’ questions. You’re welcome to use these links and resources on your website or in publications:

2017 Hurricane Tax Filing Relief state-by-state spreadsheet (click on link from webpage):

http://cost.org/Page.aspx?id=96843

IRS information on tax relief for Hurricane Irma victims:

https://www.irs.gov/newsroom/irs-gives-tax-relief-to-victims-of-hurricane-irma-like-harvey-extension-filers-have-until-jan-31-to-file-additional-relief-planned

Preliminary Thoughts on the Tax Implications of Hurricane Irma (attached)

AICPA TV webcast and Powerpoint presentation on Disasters and Taxes – Understanding Disaster Relief for Disaster Victims, from July 24, 2017:

http://www.aicpa.org/News/AICPATV/Pages/home.aspx?bctid=5519365924001&Ca=Tax|Webcast+Archives&Type=VideoSubCat

http://www.aicpa.org/InterestAreas/Tax/CPEAndEvents/DownloadableDocuments/2017-06-20-Disasters-and-Taxes-Presentation-Slides.pdf

Casualty Loss and Disaster Relief webpage on the AICPA website:

http://www.aicpa.org/interestareas/tax/resources/compliance/pages/casualtyloss.aspx

Casualty Loss Practice Guide:

http://www.aicpa.org/InterestAreas/Tax/Resources/Compliance/DownloadableDocuments/casualtylosspracticeguide-revised-2014.pdf

Disaster Tax Relief policy positions and advocacy efforts on the AICPA website, including 2015 brochure, Tax Relief for Natural Disaster Victims:

http://www.aicpa.org/Advocacy/Tax/Pages/Disaster-Relief.aspx

Also, if your state is providing relief on a case-by-case basis and does not follow the federal relief guidelines, you may want to consider contacting your state’s department of revenue to encourage it to provide broader guidance and follow federal guidelines.