As National Wildfire Awareness Month (May) and National Hurricane Preparedness Week (May 4–10) approach, the IRS urges individuals and businesses to safeguard their tax and financial records ahead of potential natural disasters. With FEMA already issuing 12 disaster declarations in 2025, the IRS offers these key tips:
- Secure Important Documents: Store originals (e.g., tax returns, Social Security cards, property records) in waterproof containers and keep copies offsite or digitally on a flash drive.
- Document Valuables: Use mobile devices to photograph or video belongings. IRS Publications 584 and 584-B offer tools to inventory personal or business property.
- Rebuild Lost Records: If documents are destroyed, visit the IRS’s Reconstructing Records page to begin recovery.
- Check Employer Protections: Employers should ensure payroll providers carry fiduciary bonds to guard against financial losses in emergencies.
- Tax Relief Availability: The IRS may extend filing and payment deadlines for those in FEMA-declared disaster zones—relief is automatic for residents in covered areas. Others affected should call 866-562-5227 for guidance.
Being prepared now can help minimize financial setbacks later.
Link to full article -> IR-2025-55