Ways To Keep Tax and Financial Records Safe in Case of a Natural Disaster
It’s the time to plan for what to do in case of a disaster. Because natural disasters are more common . Here are some tips which helps you to know how you can help make your recovery easier by keeping your tax and financial records safe.
1. Backup Records Electronically: A perfect way to secure your records is receive bank statement by email.Using of an external hard drive, CD or DVD to store import records is safe. Scan tax records and insurance policies onto an electronic format.
2.Valuable document: The visual records helps you to show the value of lost items value which help you with insurance claims or casualty loss deductions on your tax return. So take photos and videos of the content of your home or business and keep in a safe place or with friends or relatives.
3.Keep copies of Tax returns or Transcripts: Get Form 4506 by visiting IRS.gov and request for copy of Tax Return, to replace lost or destroyed tax returns.Request for Transcript of tax return.
4.Emergency Plan’s updating: Update your emergency plans when your situation changes. Review emergency plans every year.
5.Count on the IRS: The IRS is ready to help you if you become, victim to a disaster. If you need special help with disaster related tax issues you can contact IRS disaster hot-online at 866-562-5227.