HOUSTON – O’Connor, a Houston-based tax consulting firm led by Patrick O’Connor, has launched a Federal Tax Refund Program to help home and business owners navigate the options for additional aid in recovery from hurricane season.
“The Federal Tax Refund Program is certainly the fastest way for Texans to get a meaningful amount of cash,” said Patrick O’Connor, president, O’Connor. “Flood victims are likely eligible for a federal income tax refund regardless of flood insurance coverage.”
Through federally implemented casualty deductions, the Federal Tax Refund Program is designed to securely hasten the process in coordinating and mitigating a significant federal income tax refund available for eligible flood victims impacted by Hurricane Harvey.
Hurricane Harvey made landfall in Texas on August 25 and dumped 50 inches of rain in the Houston area. Some 100,000 single-family homes were damaged or destroyed and a significant number of commercial properties were damaged.
A casualty loss of 10 to 30 percent is typical after a flood, the options available can be incredibly substantial as flood victims are seeking ways to rebuild and move forward, O’Connor said. The firm established a website to the program: Aid4Harvey.com
Through the Federal Tax Refund Program, O’Connor will:
- Eliminate the time it will take for flood victims to research the IRS regulations.
- Coordinate with a tax preparer to get an accurate property appraisal.
- Properly submit the required documents and information to the IRS to get a refund.
- Provide the quickest method for flood victims to receive aid for their repairs.