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IRS Provides Guidance to Louisiana, Mississippi Taxpayers Dealing with Casualty Loss Reimbursements

LA/MS-2008-14, Updated March 24, 2008

NEW ORLEANS — Louisiana and Mississippi taxpayers affected by the 2005 Gulf hurricanes can get answers to questions on reporting federal reimbursement grants on their federal income tax returns by checking out new information at

Information has been added to for Hurricane Katrina, Rita and Wilma victims who claimed casualty and theft losses on their individual income tax returns and are now handling reimbursements received in tax years after the loss occurred.

Taxpayers visiting will find guidance in Frequently Asked Questions (FAQs) under “Guidance for Those Affected by Hurricanes Katrina, Wilma and Rita .”

The “Grant Proceeds” category contains detailed information and several examples of how the casualty loss and reimbursement rules are applied.   The “Sale of Home” category also provides several examples of how federal tax law is applied when there is a subsequent sale of personal residence after a casualty loss deduction.  

The most current information, including news releases and other legal guidance applicable to any disaster, can be found in the section “Disaster Frequently Asked Questions (FAQs).”

The IRS encourages tax professionals and affected taxpayers to use disaster guidance from and IRS publications to determine how the tax law applies to their individual situation based on their facts and circumstances.

IRS will also conduct Town Hall meetings to ensure the most up-to-date disaster information reaches taxpayers.  Registration is not required.

Schedule of Town Hall Meetings

Wednesday, March 26, 2008   
Session 1:  8:30 to 10 a.m.
Session 2:  1:30 to 3 p.m. 
Location:  Terrebone Parish Library, 151 Library Drive (formerly Civic Center Blvd.), Houma, LA 70360 

Saturday, March 29, 2008  
Session 1:  9:30 to 11 a.m.
Session 2:  1 to 2:30 p.m.
Location:  Central School of Arts and Humanity Center, 809 Kirby St., Lake Charles, LA

Wednesday, April 2, 2008
Session 1: 8:30 am to 10:00 am
Session 2: 1:30 pm to 3:00 pm     
Location: Gulf Coast Business Technology Ctr., 1636 Popps Ferry Rd., Biloxi, MS

Saturday, April 5, 2008
Session 1:  9:30 to 11 a.m.
Session 2:  1 to 2:30 p.m.
Location:  Superdome, New Orleans, LA


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