Reconstruct Records After a Disaster

Taxpayers who are victims of a disaster might need to reconstruct records to prove their loss. Doing this may be essential for tax purposes, getting federal assistance, or insurance reimbursement.

Here are 12 things taxpayers can do to help reconstruct their records after a disaster:

1. We can obtain tax return transcripts from the IRS. We have archived copies of source documents and prior year returns we prepared.
2. To establish the extent of the damage, taxpayers should take photographs or videos as soon after the disaster as possible.
3. Taxpayers can contact the title company, escrow company, or bank that handled the purchase of their home to get copies of appropriate documents. We may have a copy of the HUD-1 form the original purchase in our archive.
4. Home owners should review their insurance policy as the policy usually lists the value of a building to establish a base figure for replacement.
5. Taxpayers who made improvements to their home should contact the contractors who did the work to see if records are available. If possible, the home owner should get statements from the contractors to verify the work and cost. They can also get written accounts from friends and relatives who saw the house before and after any improvements.
6. For inherited property, taxpayers can check court records for probate values. If a trust or estate existed, the taxpayer can contact the attorney who handled the trust.
7. When no other records are available, taxpayers can check the county assessor’s office for old records that might address the value of the property.
8. There are several resources that can help someone determine the current fair-market value of most cars on the road. These resources are all available online and at most libraries:
   1. Kelley’s Blue Book
   2. National Automobile Dealers Association
   3. Edmunds
9. Taxpayers can look on their mobile phone for pictures that show the damaged property before the disaster.
10. Taxpayers can support the valuation of property with photographs, videos, canceled checks, receipts, or other evidence.
11. If they bought items using a credit card or debit card, they should contact their credit card company or bank for past statements.
12. If a taxpayer doesn’t have photographs or videos of their property, a simple method to help them remember what items they lost is to sketch pictures of each room that was impacted.

We have 56 clients in Texas that were impacted by Hurricane Harvey and 47 clients in Florida that were affected by Hurricane Irma. We stand ready to assist you in any manner we can. Our archive of your tax records may contain copies of documents you need. Call our hotline at 1-800-551-6254 and speak to Tracie or Brooke.