California Tax Refunds For Fire Victims
Immediate tax relief in the form of tax refunds is available to victims of the wildfires in the seven Southern California Counties of San Diego, Santa Barbara, Ventura, Los Angeles, San Bernardino, Orange, and Riverside, The Franchise Tax Board (FTB) announced.
One of the relief measures put forth by the FTB allows fire victims to receive additional tax refunds this year if they report their disaster losses through amended 2006 returns ASAP.
"The victims of the Southern California fires need to know they can turn to the State for immediate help. By claiming a disaster loss on last year’s taxes, those who lost their homes or suffered property damages can get additional funds to help them through this tragedy,"said State Controller and FTB Chair John Chiang.
For those who lost tax records, copies of state tax returns can be requested by completing Form FTB 3516, Request for Copy of Tax Return. Make sure to write “Southern California Wildfires 2007” in red at the top of the form. There is no charge for copies of tax returns for victims of disasters.
Additional information about how California handles losses resulting from disasters can be found on FTB Pub. 1034, Disaster Loss, or visit the FTB website at www.ftb.ca.gov. The FTB toll free number is (800) 852-5711.
Feel free to search all San Diego homes for sale throughout the county.
Good to see the local government trying to assist property owners so quickly. What percentage of their taxes would they be receiving back? Or is it all of their 2006 property taxes?
This is a state income tax refund. Instead of having to wait until next year to file, the state is allowing fire victims to amend last year's state income tax return and get those refund monies now.
Hi Bob, I have two mortgages on this condo with two different mortgage companies provided by the developer whom I purchased the condo from in September 2005. Both are purchase money loans for my condo in Escondido. I paid 350K for the condo, and residents in our complex are now selling their units for around 179K. I’m 3 months behind on my mortgages payments. I sent letters to both mortgage companies requesting loan modifications from them, but were denied. I can see that I’m heading for a foreclosure as I have lost half of my income. It is my primary residence. I’m wondering if you are interested to handle a deed in lieu of foreclosure with my mortgage companies? I’m trying to save my credit rating in some way. Please kindly advise. Thanks!