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IR-2009-61, June 22, 2009
Podcast: English
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WASHINGTON — With the 2009 hurricane season now underway, the Internal
Revenue Service encourages individuals and businesses to safeguard themselves by
taking a few simple steps.
Create a Backup Set of Records Electronically
Taxpayers should keep a set of backup records in a safe place. The backup
should be stored away from the original set.
Keeping a backup set of records –– including, for example, bank statements,
tax returns, insurance policies home, etc. –– is easier now that many financial
institutions provide statements and documents electronically, and much financial
information is available on the Internet. Even if the original records are
provided only on paper, they can be scanned into an electronic format. With
documents in electronic form, taxpayers can download them to a backup storage
device, like an external hard drive, or burn them to a CD or DVD.
Document Valuables
Another step a taxpayer can take to prepare for disaster is to photograph or
videotape the contents of his or her home, especially items of higher value. The
IRS has a disaster loss workbook, Publication
584, which can help taxpayers compile a room-by-room list of belongings.
A photographic record can help an individual prove the market value of items
for insurance and casualty loss claims. Photos should be stored with a friend or
family member who lives outside the area.
Update Emergency Plans
Emergency plans should be reviewed annually. Personal and business situations
change over time as do preparedness needs. When employers hire new employees or
when a company or organization changes functions, plans should be updated
accordingly and employees should be informed of the changes.
Check on Fiduciary Bonds
Employers who use payroll service providers should ask the provider if it has
a fiduciary bond in place. The bond could protect the employer in the event of
default by the payroll service provider.
IRS Ready to Help
If disaster strikes, an affected taxpayer can call 1-866-562-5227 to speak
with an IRS specialist trained to handle disaster-related issues.
Back copies of tax returns and all attachments, including Forms W-2, can be
requested by filing Form 4506, Request for Copy
of Tax Return. Likewise, transcripts can be ordered using Form 4506-T, Request for Transcript of Tax
Return. Returns or transcripts can also be ordered by calling
1-800-829-1040.
There is no fee for a transcript or tax return copy for a taxpayer located in
a federal disaster area qualifying for individual assistance. Taxpayers should
put the assigned Disaster Designation in red ink at the top of the request
form
.
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