Tax Refunds Help Tornado Victims
Release Date: April 21, 2006
Release Number: 1634-030
» More Information on Tennessee Severe Storms and Tornadoes
JACKSON, Tenn. -- Residents of 15 Tennessee counties now are eli gible to claim income tax refunds from the Internal Revenue Service if they suffered uninsured property losses in the recent tornadoes and severe storms. They can get the additional refund quickly by filing amended tax returns for 2004.
The federal disaster declaration now includes Benton , Cannon, Carroll, Cheatham, Cumberland , Davidson, Dickson, Dyer, Fayette, Gibson, Haywood, Maury, Sumner, Warren and Weakley counties. Storm victims who live in these counties may be eligible to claim casualty losses immediately by amending their last tax returns as a quick source of much-needed cash.
Taxpayers can choose to claim the deduction on federal tax returns for tax year (2005) or the previous year (2004), whichever works best for that individual. When filing amended returns, they should write Tennessee Tornadoes at the top of their returns in red to help expedite processing. They also should keep careful records documenting their losses, including before-and-after photos if possible.
Internal Revenue Service claims are filed on Form 4684. Obtaining a copy of IRS Publication 547 will help guide taxpayers through the process. Federal tax forms and publications are available free of charge by calling 1-800-829-3676 or on the Web at www.irs.gov .
For more information, call the IRS toll-free at 1-800-829-1040 or visit the IRS Web site.
Last Modified: Monday, 24-Apr-2006 07:52:39