 Internal revenue service IRS, tax news. Tax payers should include financial safety and their disaster preparedness plans. And obviously we could just look to the IRS and the government for good examples on how to do this. For example, in the event of a financial disaster, you first look for ways to take money from your neighbors. And then try setting up a printing press in your backyard to print more money. Warning. Printing money may inflate the currency resulting in higher prices and outside pressure to stop doing it. But you can get away with it for a good long while. And once the gig is up, there's always some poor sucker you can blame for the inflationary problems you caused. For example, check this excuse out. The fact that there has been more rain this year has resulted in more overall moisture in the sky, which inflated the paper dollars. Obviously, the weather is outside of anybody's control. Yes, global warming, along with big oil price gouging has struck again. You see how this works? And then you move on to phase two to get more money out of people now that you had to turn the printing press off for a little while at least. The only way we could fix this problem, people, you know the one caused by the rain and the moisture which inflated the dollars, which we had absolutely no control over. But we're going to fix it now. The only way we could fix that is to wait for it, wait for it, increase taxes. But wait a second, you might hear from some people. Wouldn't increasing oil production and refining result in lower energy costs and less dependence on outside sources? When you hear people saying stuff like this, you just aggressively shut them down generally by creating some kind of straw man. For example, no, you non-government approved, I mean, false information spouting person. You disgust me. Your Twitter status has been degraded from full twit to baby twit, who may now only receive subsidence from regurgitated worms puked out of the mouths of government approved and sponsored twits tweeting twiddle. IRS tax tip 2022-80 May 24th, 2022 after a natural disaster, personal financial insurance, medical and other records can be vital to starting the recovery process. Here are some things taxpayers can do to help protect their financial safety in a disaster situation, update emergency plans. We should have our emergency plans and obviously the emergency plans may differ depending on where we are in the country and the different types of emergencies that might be more likely to be arising. A disaster can strike at any time. Personal and business situations are constantly evolving, so taxpayers should review their emergency plans annually. So clearly the emergency plans are something that you don't do like all the time, so you do them periodically. So it might be some time before you get back to reviewing your emergency plans. You might want to set them up as kind of an annual review type of process or something like that. Create electronic copies of documents. Taxpayers should keep documents in a safe place. So that rain when the rain happens and the storms and stuff that not only inflates paper dollars, it could it could cause other paper stuff to get inflated and blowing around and like you know the ink smears. So you can save them electronically, possibly somewhere electronically, not in the actual home, but maybe on the cloud as long as you can get us if you feel secure to save it somewhere on the cloud, for example, because then if there's some problem in a particular location, you've got the documentation that's saved outside of that location. So this includes bank statements, tax returns and insurance policies. Now a lot of this stuff, the bank statements and that kind of stuff, hopefully the bank itself will have some information on it. So if there was some big disaster, you would have the bank statements, which are becoming more electronic and so forth in and of themselves. But if you were to do the bookkeeping or save the bank statements, do the bookkeeping with them, bank reconciliations, that kind of stuff, you obviously might want to save them then somewhere with a backup, possibly on your computer, possibly and or a backup that maybe is outside of or on the cloud. This is especially easy now since many financial institutions provide statements and documents electronically. So it is getting a lot easier. The IRS is even the IRS is doing more stuff like that. So it's getting easier. If original documents are available only on paper, taxpayers can use a scanner and save them on a USB flash drive or in the cloud document valuables. So documenting valuables by taking pictures or videoing them before disaster strikes makes it easier to claim insurance and tax benefits if necessary. So obviously if we were to try to claim insurance that we have like homeowners insurance or renters insurance or something like that, it's a lot easier to do that if we have a list of the things that were there, which you would think that you can kind of recall pretty easily, but it does get quite complicated, especially after a disaster to remember that stuff. And then of course you need to approve the stuff to the insurance companies, which would be best to do if you had actual pictures and video of them. So irs.gov has a disaster lost workbook. There's a workbook for you here that you could check a look at that can help taxpayers compile a room by room list of belongings, understand tax relief is available in disaster situations, information on disaster assistance and emergency relief for individuals and businesses is available on irs.gov irs.gov the for victory over tax questions. There's a link to that here. Taxpayers should also review publication 547 casualty disaster and thefts. There's a link to that taxpayers who live in a federally declared disaster area can visit around the nation. There's a link to that on irs.gov irs.gov and click on their state to review the available disaster tax relief. So those who live in counties qualifying for disaster relief receive automatic filing and payment extension for many currently due tax forms and don't need to contact the agency to get relief. So the irs is gracious enough in many situations if you've suffered catastrophic loss, sometimes they'll extend the deadlines on your on your taxes a little bit. So you got that going for you. So people with disaster related questions can call the irs at 866-562-5227 866-562-5227 to speak with an irs specialist trained to handle disaster issues. They can request copies of previously filed tax returns and attachments by filing form 4506 order transcripts showing most aligned items through git transcripts on irs.gov or call 800-908-9946 for transcripts. Now some of that stuff you can also possibly do through the irs website and more and more like with the banks many people are doing the online banking now you would think that the irs is and I think they are attempting to get more up to date they stopped the facial recognition thing for now I think because the banks don't need that so kind of felt like the irs is trying to rule the world by scanning your whole body's DNA into the I'm saying it was for security reasons or something no they stopped that for now there's they don't need the tattoo in your head or like the chip or anything but so you should they should get more stuff on online and obviously if you lose your paperwork if it gets bloated and inflated in the storm or something like that you might be able to go online and pick up some of the transcripts and the documentation which can help you to kind of reconstruct at least the information that you use to create the the taxes so that's a it's a really nice place to start to reconstruct certain things so more information can be found at the links below there's a publication 584b business casually disaster and theft loss workbook there's a link to that and there'll be a link to this in the description