How to reconstruct tax records after a disaster

Some of your clients who experienced a disaster may need to reconstruct vital records that were lost. Having these records is important for tax purposes, federal assistance, or insurance reimbursement. Here are a few steps you can pass along.

Replace tax records

A recent tip explained the different types of tax transcripts and how to get them. The most common type needed after a disaster loss is a tax return transcript. Taxpayers can:

• Register to use Individual Online Account to view, print, or download their transcript(s).
• Order a transcript by mail or call the automated phone transcript service at 800-908-9946. This typically takes between 5 to 10 calendar days for delivery.
• Request by submitting Form 4506-T, Request for Transcript of Tax Return.

Financial and bank records

Credit card companies and banks often provide users with access to past statements.

Reconstruct personal property records: Photos, videos, canceled checks, receipts can help establish the value of damaged or lost property. They can also check online sources to help determine fair market value.

Real property records

• Property documents: Contact the title or escrow company or bank that handled the purchase of the home or other property for copies of the records.
• Home improvements: Get in touch with the contractors who did the work and ask for statements to verify the work and cost. They can also get written descriptions from friends and relatives who saw the house before and after any improvements.
• Inherited property: Check court records for probate values. If a trust or estate existed, taxpayers can contact the attorney who handled the trust.
• No records: People with no records available should check the county assessor’s office for old records that might address the value of the property.

Vehicle records

Vehicle owners can research the current fair-market value for most vehicles. Resources are available online and at most libraries. They can also contact the dealer where the car was purchased and ask for a copy of the contract.

Taxpayers in a disaster area may now see personalized messages in their IRS Individual Online Account. The messages highlight tax relief, including extended filing and payment deadlines as well as a link to other disaster assistance information. They can also find news about disaster tax relief specific to their area on the Around the nation page of IRS.gov.