You Never Know When A Disaster Might Occur
Disaster preparation season kicks off soon with National Wildfire Awareness Month in May and National Hurricane Preparedness Week, May 4-10.
Be Prepared
The IRS emphasizes the importance of preparation. With 12 major disaster declarations in 2025 already issued by FEMA, the IRS urges taxpayers to protect their financial and tax information. Key tips include:
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Secure important documents: Store originals in waterproof containers and keep copies in a safe deposit box or with a trusted person. Scanned documents can be saved on a flash drive.
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Record valuables: Use photos or videos to document high-value items for insurance or tax claims, aided by IRS disaster loss workbooks (Publications 584 and 584-B).
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Rebuild records: Visit the IRS’s Reconstructing Records webpage to replace lost records for tax, insurance, or federal assistance purposes.
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Check fiduciary bonds: Employers should ensure payroll service providers have fiduciary bonds to protect against default.
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Tax relief options: The IRS may postpone tax deadlines for those in FEMA-declared disaster areas, automatically applying relief for affected taxpayers. Others impacted can call the IRS Disaster Hotline (866-562-5227) to explore relief options.
The IRS encourages year-round preparedness to mitigate the impact of disasters on individuals and businesses. For more detailed information and websites that can offer further assistance, go the the IRS website: https://www.irs.gov/newsroom/irs-reminder-protect-important-records-in-case-a-natural-disaster-strikes.