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Some Tornado Victims Could Use Special Tax Form

It's a form for casualty loss.
PEORIA - Tornado victims are still dealing with the nightmare of rebuilding their lives as they face another stressor; tax season.

William Sharpe, President of Total Income Tax said people who were uninsured or under-insured can fill out a form for casualty loss. They can choose to amend their 2012 tax return for a timelier bonus. Another option is to file it with 2013 taxes by April 15th.

“I don't think it would be a dollar for dollar reimbursement, but what it would help do is kid of offset some of the losses that you had,” Sharpe said.

Sharpe recommends seeking the help of a tax professional to help with the process.
 
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