Thursday, July 31, 2008

Tax Help - Disaster Update


The Federal Emergency Management Agency (FEMA) has announced that the President, on July 15, 2008, determined that certain areas in Vermont are eligible for assistance from the federal government under the Disaster Relief and Emergency Assistance Act (42 USC 5121) as a result of severe storms and flooding beginning on June 14, 2008. Accordingly, taxpayers in the counties of Addison and Franklin who sustained losses attributable to the disaster may deduct the losses on their 2007 federal income tax returns.

FEMA also updated information for previously declared disasters in Iowa, Missouri, and Oklahoma. FEMA posts updated information on disasters on a regular basis on the FEMA website.

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