Disaster Relief Tax Breaks for 2018–2020 Events

If you were affected by federally declared disasters between 2018 and 2020, Dr. Friday explains how new legislation may let you claim tax relief retroactively.

Transcript

G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.

Legislation has passed by Congress last year that eases the tax for people that have been devastated by a federal disaster from 2018 through 2020. The relief is going to take place in 2021 through 2024.

You’re going to be able to take some of the damages from Hurricane Ian and some of the other ones that have—I mean goodness gracious—we have a whole list here of disasters that’s hit Nashville from that time period.

But what you want to do is if you were affected by those and you did not get to claim those losses, you need to sit down and talk to a tax expert. See if you qualify for any additional tax credits that may have come across the board.

You can catch me on the internet. You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.