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Taxpayers should be prepared for natural disasters



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Hurricane season is once again upon us. Therefore, the IRS is reminding taxpayers to be prepared for hurricanes and other natural disasters. 

On August 21, 2018, the IRS posted Tax Tip 2018-130 suggesting important tips including:

  • Update your emergency plan annually to reflect changes in your personal and business life
  • Make electronic copies of key documents
  • Take video or photograph inventory of your valuables 

In a federally declared disaster, taxpayers can call 866-562-5227 to speak to an IRS specialist for help. You can also obtain transcripts of prior-year tax returns. 

Download the 2018-19 Tax Planning Guide

LBMC tax tips are provided as an informational and educational service for clients and friends of the firm. The communication is high-level and should not be considered as legal or tax advice to take any specific action. Individuals should consult with their personal tax or legal advisors before making any tax or legal-related decisions. In addition, the information and data presented are based on sources believed to be reliable, but we do not guarantee their accuracy or completeness. The information is current as of the date indicated and is subject to change without notice.