Federal Budget IQ’s Post

#insuranceNation #propertyandcasualtyinsurance #freeinsuranceevaluation #contactustoday #policyreview #choices #independentagency *72% of states experienced 10 or more major disaster declarations. *24 states had every county impacted by a major disaster declaration. *States with the highest per capita post-disaster assistance spanning across both political affiliations are Louisiana, New York, New Jersey, North Dakota and Vermont.

IRS relief now available to flood victims in the Juneau area; multiple deadlines postponed to May 1, 2025 The IRS announced disaster tax relief for individuals and businesses in Juneau, Alaska, affected by flooding starting August 5, 2024. Affected taxpayers now have until May 1, 2025, to file federal tax returns and make payments. This includes 2024 returns and any businesses or individuals with extensions for their 2023 returns (though payments due before the flood are not extended). Relief is available to any areas designated by FEMA, currently covering Juneau. Penalties for late payroll and excise tax deposits due between August 5–20, 2024, will be waived if deposits were made by August 20. Additional tax relief is available for disaster-related losses, which can be claimed on either 2023 or 2024 tax returns, with the FEMA declaration number 4836-DR. Affected taxpayers can also exclude qualified disaster relief payments from their gross income, and may be eligible for special disaster distributions from retirement plans without incurring early withdrawal penalties. Free tax preparation help is available through VITA, TCE, and other IRS-supported services. For more information on disaster recovery, visit DisasterAssistance.gov.

⏬🆕 Stay ahead of #InsuranceIndustry shifts, with "Critical Information for P/C Carrier Executives", from @CarrierManagement: Biden Administration Urges Congress to Fund Disaster Relief President Joe Biden’s budget director called on U.S. lawmakers on Monday to quickly pass emergency disaster relief funding in the wake of damaging storms and said it would send Congress a funding package in coming days. Biden’s administration has made multiple requests for more disaster aid since Congress last passed supplemental funding in December 2022, … Continued #PCInsurance #InsurTech #PropertyInsurance #PublicAdjusters #PropertyClaims #InsuranceIndustryNews #InsuranceNews https://vist.ly/3mmrzv9

Polish flood disaster is Tusk’s pandemic moment #bne #bneEditorsPicks #Poland #Floods #Tusk When the COVID-19 pandemic struck Poland in early 2020, the amount of public help the then-government provided reached 10% of the country’s GDP. Today, as the biggest flood since 1997 turned several Polish towns to rubble, the still relatively new government of Donald Tusk is facing a similar, even if smaller, challenge: rolling out unconditional help to support clean-up and reconstruction. If it fails, it will face unfavourable comparisons with the previous administration less than a year ahead of a key presidential election that will decide its future.

Here’s what you need to know about disaster money from FEMA by The Associated Press

As disasters multiply, FEMA makes it easier for tribes to get aid https://ow.ly/mNRN50UoO9m

Here’s a Look at the $100 Billion in Disaster Relief in the Government Spending Bill

Here’s a Look at the $100 Billion in Disaster Relief in the Government Spending Bill

Clear messaging and concrete steps from Mass legislators: "Legislation we filed—H.876 and S.557— create a commission to determine the feasibility of voluntary acquisition of flood risk properties and structures, allowing our state to examine how to best implement cohesive programming to move residents, businesses, and critical infrastructure out of harm’s way."  https://lnkd.in/es2-riE2

Here’s a look at the $100 billion in disaster relief in the government spending bill