[SCalGal]

Also just heard that people with losses can immediately file with IRS for refund on their taxes. I didn't catch the whole story but anyone affected should check this out with an accountant.

You can immediately file for a refund on last year's taxes. You'll need an itemized list of losses, but you'll need that anyway.

The IRS will be out at the disaster sites. I just talked to a friend tonight who will be going. They can't do anything for you at the site, except guide you in the process.

Also, do not just walk away from property. Talk to your accountant first. If there is a loan on the property, and you let the mortgage company have it, they can "forgive" that debt. Debt forgiveness is taxable income.

[BurbankKarl]

Yes, definitely see an accoutant, they spent 10 minutes on KCAL today talking about so many different aspects it made my head spin. They also interviewd Fair Plan officials who are mailing $20,000 checks today for last weeks victims