Tax Breaks Approved for Hurricane Victims

In the South Florida Sun-Sentinel, December 17, 2005, Benjamin Tobias was quoted in the article Tax Breaks Approved for Hurricane Victims by William E. Gibson.  The article discusses how the new tax legislation regarding Hurricane Wilma, Rita, and Katrina might benefit taxpayers who have been affected by these storms.  Ben commented, “For anybody who itemizes deductions, that really is a help to do away with the ten-percent requirement on the casualty loss.  You have a lot of people with significant damages that are not reimbursed by insurance.  Now they can actually claim that loss.”

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