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IRS Advice on Financial Preparation for Disasters

by | May 15, 2023 | IRS |

This week is National Hurricane Preparedness Week and May is National Wildfire Awareness month, and the Internal Revenue Service is offering tips on how to protect your personal information in case of a natural disaster. The IRS recommends:

  • Tax returns, Social Security cards, birth certificates, and other original documents should always be stored in waterproof containers, with copies stored in a secondary location.
  • A list of high-value property should be maintained, perhaps even with pictures, in order to support claims for insurance or tax benefits.
  • Employers using payroll services should check if their provider has a fiduciary bond to protect their company in case of a default by the payroll service.

Click here to read more how the IRS provides tax relief after a natural disaster.


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