The President recently declared federal disaster areas for numerous counties affected by the severe storms, flooding, landslides and mudslides which occurred in Indiana from February 14 to March 4, 2018, in Ohio during the period of February 14 to 25, 2018 and in West Virginia during the period of February 14 to 20, 2018.
The counties included in the federal disaster area in Indiana include Carroll, Clark, Elkhart, Floyd, Harrison, Jefferson, Lake, Marshall and St. Joseph. The following 18 counties were affected in Ohio: Adams, Athens, Belmont, Brown, Columbiana, Gallia, Hamilton, Jackson, Lawrence, Meigs, Monroe, Muskingum, Noble, Perry, Pike, Scioto, Vinton and Washington. In West Virginia, 21 counties were affected: Brooke, Cabell, Calhoun, Doddridge, Hancock, Harrison, Lincoln, Logan, Marshall, Mason, Monongalia, Ohio, Pleasants, Preston, Ritchie, Taylor, Tyler, Wayne, Wetzel, Wirt and Wood.
If you or someone you know with property in any of these counties has suffered economic losses as a result of these damaging events, please feel free to reach out to us to determine if the casualty loss rules can be used to reduce your tax 2017 or 2018 tax obligations.