- FOR IMMEDIATE RELEASE -
Fiscal Tax Company Provides Indiana Flood Victims with Online Tool to Calculate Midwest Disaster Tax Relief
Indianapolis, IN, March 6, 2009 -- Indiana-based Fiscal Tax Company created an online calculator helping Indiana taxpayers learn the extent to which they are eligible for tax relief under the Heartland Disaster Tax Relief Act of 2008. Congress passed this act in the wake of last year’s historic floods to provide substantial tax relief to Midwestern residents who were impacted by last year’s historic floods.
The new tax provision for the Hope and Lifetime Learning credit more than doubled the tax savings for Indiana taxpayers or their dependent children who attended classes in any of the 39 Indiana counties that were affected by the severe storms, flooding and tornadoes that occurred in the Midwest between May 20, 2008 and July 31, 2008. Eligible taxpayers who have taken advantage of the Heartland Disaster Tax Relief Act have already received substantially increased refunds on their 2008 tax returns. Unfortunately, many victims of last year’s flooding are unaware that they can benefit from this tax provision.
To help educate the public, Fiscal Tax Co. created the Midwest Disaster Relief Education Credit Calculator. This is an online tax calculator that helps Hoosiers easily see if they qualify for the tax relief and instantly get an estimate of their increased refund. This is the only tax calculator of its kind online and is exclusively available on the Fiscal Tax website at http://fiscaltax.com/midwest-disaster-relief-education-credit-calculator
“This is the biggest tax break I’ve ever seen Indiana residents receive in over 30 years of preparing taxes. Individuals who qualify are getting refunds that average $2,500 more than normal tuition and fees credit. The higher refund occurs for two reasons – the IRS credit is doubled and you are allowed to add room and board expenses even if the student lived at home to the tuition costs, “states Fiscal Tax Company’s President, John Striewe. “The calculator we’ve implemented on our website is a simple tool for people who need to know if they’re eligible for a larger refund. These new tax credits can be very confusing, but it’s definitely not too late to find out if your eligible. Even if you have already completed your taxes, we can confirm or verify your eligibility for free.” Complete the Education Tax Credit Eligibility Form to see if you qualify.
For more in-depth information on the increased education credits, or to learn more information on the most commonly overlooked deductions, credits, and updates on recent tax changes, visit www.fiscaltax.com, or simply call 317.614.0981 to speak to a tax specialist.
About Fiscal Tax Company
Fiscal Tax Company has been the leader in the tax filing industry for more than 30 years. They offer service at the lowest cost to Hoosier taxpayers. Fiscal Tax offers free tax advice at any of their 41 locations in Central Indiana. www.fiscaltax.com
To schedule an interview with Fiscal Tax Owner John Striewe, please contact Jeb Banner, 317.201.4339 or jeb@smallboxweb.com at Small Box Consulting.
