IRS has issued new guidance on filing a Casualty Loss for victims of Hurricane Katrina & Rita called the

SAFE HARBOR METHOD

based on Revenue Procedure 2006-32.  This was released in June 2006 after most had already filed their 2005 return.

Attached is a list of what information we will need to determine if you qualify for this method.  Please remember:

a. this would be a refund of taxes that you have already paid in,

b. you must have had damage to your home not just property, and         

c. insurance information will be use for square footage information, not replacement cost. 

Please call if you have any question. 

Thanks