SANDY

INFORMATION FOR THOSE WHO EXPERIENCED HURRICANE SANDY
Revised January 6, 2013

The blog has a number of entries that are specific to the hurricane that affected a major portion of the East Coast of the United States in late October 2012.
There are a number of websites that will assist you if you need non-income tax assistance. This blog is dedicated to federal income tax issues.
There are several entries in the blog that are specific to the hurricane area. These entry listings are specific to the issue of what areas qualify for Federal disaster relief under the federal Internal Revenue Code. Several of them are updated with current information as FEMA issues new Presidential Disaster Declarations.

DISASTER DECLARATIONS

On October 30, 2012 the President declared selected counties in four states “FEDERAL DISASTER AREAS,” but only counties in these four states, the other eight states were not declared.

INITIAL DISASTER DECLARATIONS AND LATER ADDITIONS
As the hurricane was starting to pound the eastern states, the President declared counties in four state federal disaster areas., These are listed below.
Number
Declaration Date
State
Incident Description
10/30/2012
Connecticut
10/30/2012
New Jersey
10/30/2012
New York
10/18/2012
Florida

Over the next two months the President issued “disaster declarations” for counties in the other eight states culminating with Massachusetts declared on December 19, 2012. The eight states are listed below.

 Number
Declaration Date
State
Incident Description

1/3/2013
Ohio

4097
12/19/2012
Massachusetts
Hurricane Sandy

4096
12/06/2012
District of Columbia
Hurricane Sandy

4095
11/28/2012
New Hampshire
Hurricane Sandy

4093
11/27/2012
West Virginia
Hurricane Sandy

4092
11/26/2012
Virginia
Hurricane Sandy

4091
11/20/2012
Maryland
Hurricane Sandy

4090
1/16/2012
Delaware
Hurricane Sandy

11/3/2012
Rhode Island






Current SBA Disaster Declarations

Disaster declarations issued through the Small Business Administration are issued by the Secretary of Agriculture not the President.
“SBA provides low interest disaster loans to homeowners, renters, businesses of all sizes and private, nonprofit organizations to repair or replace real estate, personal property, machinery & equipment, inventory and business assets that have been damaged or destroyed in a declared disaster. View the current Presidential and SBA Agency disaster declarations for your area below.”
STATES
DECLARATION #
INCIDENT
INCIDENT PERIOD
EFFECTIVE
Connecticut
13420, 13421
Leominster Commercial and Residential Complex Fire
11/24/2012
12/12/2012
Massachusetts




New Hampshire




Rhode Island




Connecticut
13369, 13370
Connecticut Hurricane Sandy
10/27/2012 through 11/08/2012
10/30/2012
Maryland
13435, 13436
Maryland Hurricane Sandy
10/26/2012 through 11/04/2012
1/2/2013
Maryland
13425, 13426
Hurricane Sandy
10/26/2012 through 11/04/2012
12/14/2012
Massachusetts
13417, 13418
Massachusetts Natural Gas Explosion
11/23/2012
12/11/2012
Massachusetts
13348, 13349
Massachusetts Severe Storms and Flooding
9/5/2012
10/22/2012
New Jersey
13367, 13368
New Jersey Hurricane Sandy
10/26/2012 through 11/08/2012
10/30/2012
New York
13341, 13342
New York Heavy Rain and Flooding
9/18/2012
10/10/2012
New York
13365, 13366
New York Hurricane Sandy
10/27/2012 and continuing.
10/30/2012
North Carolina
13382, 13383
Hurricane Sandy
10/27/2012 through 10/30/2012
11/8/2012
Rhode Island
13387, 13388
Rhode Island Hurricane Sandy
10/26/2012 through 10/31/2012
11/14/2012
Rhode Island
13387, 13388
Rhode Island Hurricane Sandy
10/26/2012 through 10/31/2012
11/14/2012
Virginia
13413, 13414
Tidal Surge, Rain and Wind from Hurricane Sandy
10/28/2012
12/7/2012

For citizens and business, the SBA declarations make available low interest loans. The SBA declarations are independent of the “DISASTER DECLARATIONS” issued by the President through FEMA. Only the “DISASTER DECLARATIONS” issued by the President through FEMA make available special tax benefits of the tax code.
Whle twelve states were recognized as states that were anticipated to be in the path of the Hurricane. Not all of them ended up being designated as Federal Disaster Areas by the President in ;the early days of and after the event. We have made every effort to update the blog entries listed below with the current information regarding what counties in which states have been designated by the President as FEDERAL DISASTER AREAS. We found that the IRS website was not necessarily current with the information that was being posted on the FEMA site. Eventually, the IRS will be current.

There are a number of tax issues that will affect those of you who have been affected by the Hurricane. No one’s story is the same as anyone else. Check out the “Process of Recovery – Contents.” Also the list of Blog Topics should be looked at for narrow topic areas.

If you have question that does not seem to be addressed, send me an email: Joh@TrapaniCPa.com . I will make every effort to respond to all requests, some by an entry in the blog, others, by directing the writer to an existing entry, others by direct email response.

Our wishes for a successful recovery are with you.
HURRICANE SANDY – OCTOBER 30, 2012
TITLES & DATE OF ORIGINAL ARTICLES POSTINGS
RELATED TO HURRICANE SANDY
Date Posted

Blog Topic



2-6-2013

CAN COOPERATIVE HOUSING CORPORATION STOCKHOLDERS DEDUCT STRUCTURAL DAMAGES DUE TO SANDY
1-10-2013

LOSS VALUATION - COST Of REPAIRS METHOD FAQs
1-6-2013

OHIO ADDED TO HURRICANE SANDY DISSTER LIST
11-21-2012

FROM IRS WEBSITE, “AROUND THE NATION” NOVEMBER 21, 2012:
11-20-2012

HOW DOES AN ORDER TO DEMOLISH AFFECT YOU TAX STATUS?
11-17-2012

2012 DISASTERS - MORE THAN “SANDY”
11/5/2012

HURRICANE SANDY - SCHEDULE OF PROFESSIONAL EDUCATION WEBCASTS FOR CPAS
11/2/2012

DOES YOUR LOSS QUALIFY AS A DISASTER?
10/30/2012

HURRICANE SANDY – FEMA DISASTER DECLARATIONS
10/29/2012

HURRICANE SANDY – NO DISASTER DECLARATION YET

As of October 29, 2012, (9:30 EDT) the FEMA website reported that the President has issued “Emergency Declarations” for eleven states. The “Emergency Declaration” made 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
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




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, 2013, John Trapani, CPA,


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