Tips for Taxpayers Who Need To Reconstruct Records after Disaster Strikes

Tips for Taxpayers Who Need To Reconstruct Records after Disaster
Strikes
After a disaster, taxpayers may need to reconstruct tax records to help determine disaster losses.
The records are essential for tax filing, getting federal assistance, and/or insurance
reimbursement. The following information can help taxpayers to reconstruct records after a
disaster:
Tax Return Transcripts
 Taxpayers can use the “Get Transcript” tool on IRS.gov or call 800-908-9946 to get free tax
return transcripts. IRS Transcripts contain helpful data provided to IRS from third-parties. Wage
and income data and mortgage interest paid are examples of data found on IRS transcripts.
Proof of Disaster Loss
 To determine the extent of a loss, taxpayers should take photographs or videos of the affected
property immediately after the disaster.
 Taxpayers should check their cell phone or other cameras for pictures and videos that show the
damaged property before the disaster.
 If a taxpayer doesn’t have photos or videos of lost property, one suggestion is to sketch pictures
of each room impacted by the loss.
 Taxpayers can support the valuation of property with photos, videos, canceled checks, receipts
from purchase of the items, or other evidence demonstrating cost.
 If a taxpayer purchased items using a credit card or debit card, he/she should contact his/her
credit card company or bank for past statements to substantiate the purchase.
Records about Property
 Taxpayers can contact the Title Company, escrow company, or bank that handled the purchase
of their home for copies of appropriate documents.
 Taxpayers who made improvements to their home should contact the contractors who did the
work and get statements and invoices from them to verify the work and cost. They can also get
written accounts from friends and relatives who saw the house before and after any
improvements.
 For probate values of inherited property, taxpayers can check court records. If a trust or estate
existed, the taxpayer can contact the attorney who handled the estate or trust.
 There are many resources to help people determine the current fair market value of vehicles.
They include Kelley’s Blue Book, the National Automobile Dealers Association, and Edmunds.
Taxpayers with Lost Business Records
 Taxpayers can employ companies like Etservicesva to recompile lost accounting data.
Essential Tax Services
13168 Piedmont Vista Drive
Haymarket, VA, 20169
703-754-2601

After a disaster, taxpayers may need to reconstruct tax records to help determine disaster losses. Log On: http://www.etservicesva.com/

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