Tuesday, October 30, 2012

Hurricane Sandy – FEMA Disaster Declarations


Hurricane Sandy – FEMA Disaster Declarations
Updated November 06, 2012

October 30, 2012, New York and selected counties in New Jersey were declared federal disaster areas. There declarations open up the federal tax code benefits to taxpayers who have experienced this tragic event.

FEMA 10-30-2012 Declares Major Disasters

SANDY: FEDERAL DISASTER DECLARATIONS  (DR)
As Of November 5, 2012
(Only Selected Counties)

New York Hurricane Sandy        (DR-4085) 10-30-2012

New Jersey Hurricane Sandy    (DR-4086) 10-30-2012

Connecticut Hurricane Sandy   (DR-4087) 10-30-2012

Rhode Island Hurricane Sandy (DR-4089) 11-  3-2012





Our best wishes go out to all who are dealing with this tragic event. The citizens and the those who are responding to the needs of the people who have been displaced, impacted and physically and emotionally affected by this huge event.


All rights to reproduce or quote any part of the chapter in any other publication are reserved by the author. Republication rights limited by the publisher of the book in which this chapter appears also apply.


JOHN TRAPANI


Certified Public Accountant


2975 E. Hillcrest Drive #403


Thousand Oaks, CA 91362


(805) 497-4411       E-mail John@TrapaniCPA.com




Blog: www.AccountantForDisasteRrecovery.com


                                                                                                                      
                           It All Adds Up For You                     


  

This material was contributed by John Trapani. A Certified Public Accountant who has assisted taxpayers since 1976, in analyzing and reporting transactions of the type covered in this material.  
Internal Revenue Service Circular 230 Disclosure
This is a general discussion of tax law. The application of the law to specific facts may involve aspects that are not identical to the situations presented in this material. Relying on this material does not qualify as tax advice for purpose of mounting a defense of a tax position with the taxing authorities
The analysis of the tax consequences of any event is based on tax laws in effect at the time of the event.
This material was completed on the date of the posting
© 2012, John Trapani, CPA,



Monday, October 29, 2012

HURRICANE SANDY – NO DISASTER DECLARATION YET


HURRICANE SANDY – NO DISASTER DECLARATION YET
Updated November 06, 2012

As of October 29, 2012, (9:30 EDT) the FEMA website shows that the President has issued “Emergency Declarations” for nine states. The “Emergency Declaration” makes federal money available to local governments. But this is not a “Disaster Declaration.” Only a “Disaster Declaration” makes special tax benefits available to individual citizens and non-governmental organizations such as businesses. 
Here is a list of the Declarations:
Declaration Type: Emergency Declaration
Incident Description: Hurricane Sandy
Date of Declaration: 10/28/2012 and 10/29-2012 and then additional states were added 10/30/2012:
EM Number
Declaration Date
State
10/28/2012
Maryland
10/28/2012
Massachusetts
10/28/2012
New York
10/28/2012
District of Columbia
10/28/2012
Connecticut
10/28/2012
New Jersey
10/29/2012
Rhode Island
10/29/2012
Pennsylvania
10/29/2012
Delaware
10/29/2012
West Virginia
10/29/2012
Virginia
10/30/2012
New Hampshire

You can check that website as the situation develops and actual damage is wrought on the North East portion of the country.

All rights to reproduce or quote any part of the chapter in any other publication are reserved by the author. Republication rights limited by the publisher of the book in which this chapter appears also apply.


JOHN TRAPANI


Certified Public Accountant


2975 E. Hillcrest Drive #403


Thousand Oaks, CA 91362


(805) 497-4411       E-mail John@TrapaniCPA.com




Blog: www.AccountantForDisasteRrecovery.com


                                                                                                                      
                           It All Adds Up For You                     


  

This material was contributed by John Trapani. A Certified Public Accountant who has assisted taxpayers since 1976, in analyzing and reporting transactions of the type covered in this material.  
Internal Revenue Service Circular 230 Disclosure
This is a general discussion of tax law. The application of the law to specific facts may involve aspects that are not identical to the situations presented in this material. Relying on this material does not qualify as tax advice for purpose of mounting a defense of a tax position with the taxing authorities
The analysis of the tax consequences of any event is based on tax laws in effect at the time of the event.
This material was completed on the date of the posting
© 2012, John Trapani, CPA,