Our hearts go out to all of you affected by Hurricane Harvey and its aftermath. As a Gulf Coast company with offices in Houston and Louisiana, you have been and will continue to be in our thoughts. In an effort to be of some assistance to you, we have compiled a list of links that will direct you to the resources necessary to begin the process of rebuilding and to answer questions you may have related to your business, your taxes, etc.
IRS Tax Relief and Extensions for Victims of Harvey in Texas – This page details who is eligible at this time for tax relief and outlines IRS filing extensions.
IRS Announces Retirement Plans Can Make Loans, Hardship Distributions to Victims of Harvey – This news release provides details on the loosening of rules for retirement plans to lend money to Hurricane Harvey victims.
Disaster Relief: Providing Assistance Through Charitable Organizations – This comprehensive guide, compiled by the IRS, covers a wide variety of topics relevant to both individuals who have experienced a disaster, as well as businesses who would like to assist their employees. Topics include:
- Helping Through an Existing Charitable Organization
- Establishing a New Charitable Organization
- How Charitable Organizations Help Victims
- Documentation of Short-Term Emergency Aid
- Reporting – Income Tax Treatment of Qualified Disaster Payments
- Employer-Sponsored Assistance Programs
- Special Tax Rules for Recipients of Disaster Relief Assistance
- Gifts and Charitable Contribution Rules
- Additional Help on Disaster-Related Topics – a listing of relevant publications and telephone numbers to reach the IRS
U.S. Small Business Administration – This site will help you determine if your losses from Hurricane Harvey qualify you for low-interest loans for your home and business through SBA disaster assistance.
FEMA – This page on the FEMA website tells you where to look for information on what to do if your business or farm was damaged.
Texas Emergency Management Executive Guide – This comprehensive guide offers information related to disaster assistance programs, grants, loans, etc.
Navigating the recovery process can be daunting. Here at LaPorte, we understand the challenges and stand ready to help. If you would like additional advice on next steps as you rebuild, please reach out to LaPorte Director Micah Stewart at [email protected]. For information on individual assistance related to Hurricane Harvey, please visit this resource page.