IRS Tax Breaks Available for Disaster Victims
Congressman John Shimkus (R, Illinois-15) wants to make sure that victims of last November's tornadoes are aware of the federal tax relief available to them.
Taxpayers in federally declared disaster areas may deduct personal property losses that were not covered by insurance or reimbursed through other means.
"The IRS made this announcement last year, but I wanted to take this opportunity to make sure that local residents who may be affected have one more voice reminding them before the tax filing deadline next week," Shimkus noted.
The federal disaster declaration was for Champaign, Douglas, Fayette, Jasper, Massac, Pope, Vermillion, Wabash, Washington, and Wayne counties in the 15th District.