Tax Relief for Midwest Disaster Areas

If you lived in a federally declared disaster area in 2008, or helped someone who did, you may qualify for certain tax breaks.

Losses suffered as a result of a number of federally declared disasters in the Midwest last summer qualify for special treatment on 2008 tax returns.

The Heartland Disaster Tax Relief Act of 2008 provides certain tax breaks to help victims of the severe storms, flooding and tornadoes that occurred in Arkansas, Illinois, Indiana, Iowa, Kansas, Michigan, Missouri, Minnesota, Nebraska and Wisconsin from May 20 through July 31, 2008. It also provides tax breaks for people who helped them.

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Mary Beth Franklin
Former Senior Editor, Kiplinger's Personal Finance