It may be important for victims of a disaster to reconstruct their tax and financial records to help prove and document their losses so they can get federal assistance or insurance reimbursement. Below are some tips to help people reconstruct important records they may need as they begin to recover and rebuild.
Tax records
* Taxpayers can get free tax return transcripts immediately using Get Transcript on IRS.gov.
* If they don’t have internet access, taxpayers can order transcripts by calling 800-908-9946 and following the prompts.
Financial statements
People can gather past statements from their credit card company or bank. These records may be available online. If not, people can also contact their bank to get paper copies.
Property records
* Property documents: Homeowners can get documents related to their property by contacting the title company, escrow company or bank that handled the purchase of their home or other property.
* Home improvements: Taxpayers who made home improvements can get in touch with the contractors who did the work and ask for statements to verify the work and cost. They can also get written descriptions from friends and relatives who saw the house before and after any improvements.
* Inherited property: Those who inherited property can check court records for probate values. If a trust or estate existed, taxpayers can contact the attorney who handled the trust.
* No records: People with no records available should check the county assessor's office for old records that might address the value of the property.
* Vehicles: Vehicle owners can research the current fair-market value for most vehicles. Resources are available online and at most libraries.
Taxpayers can find news about disaster tax relief specific to their area on the Around the nation page of IRS.gov.