The IRS reminds taxpayers of the importance of having essential documents safe. Unfortunately, there are natural disasters every day, and it is not possible to know the areas that will be affected. Therefore, it is vital to take a few things into account to protect the documents you will need to file your tax return next year.
As a matter of fact, the disaster preparation season will soon begin. There are two key events taking place to help taxpayers keep their records out of risk. First, the IRS brings National Wildfire Awareness Month. Summer is approaching, and the risk of wildfires increases as temperatures soar. Apart from this awareness month, the Agency will also start the National Hurricane Preparedness Week. It will run from May 4 through May 10, 2025.
IRS recommends making copies and protecting important records
Bear in mind that in 2025, about 9 states have already been affected by mudslides, landslides, wildfires, tornadoes, flooding, and storms, claimed the IRS. FEMA is in charge of making a declaration after a disaster takes place. Knowing that will allow you to know if you qualify for tax relief.
Make sure you keep your previous tax returns, marriage certificates, birth certificates, Social Security card, documents proving you own a house or property, in a waterproof container.
Place this container in a safe location. Also, you can make copies of these records and store them in a completely different location. For example, if you have a country house too, leave it there. Or if you know someone you can trust in a different area, you can leave this box with them. Look for a safe deposit box, though.
IRS reminds taxpayers to keep a record of valuables
Apart from keeping records and copies in a safe location, you can store them on your email, mobile phone, e-cloud, or laptop. Besides, do not forget to keep a record of valuables.
Take photos or videos of the valuables in your house. If you want to do this, you can simply use the IRS disaster loss workbooks in Publication 584. It has to do with the Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property).
If you have a business, you should use Publication 584-B, Business Casualty, Disaster and Theft Loss Workbook. It will be easier for you to make a list of all the valuable belongings you posses. Other IRS tips:
- rebuild records by visiting the IRS website “Reconstructing records”
- Employers should check fiduciary bonds
- the IRS can also provide tax relief after a disaster strikes
