For the Public
Disaster Preparedness and Recovery
Arkansas Society of CPAs, along with the American Institute of CPAs, the American Red Cross and the National Endowment for Financial Education (NEFE) offers a comprehensive Guide to Preparing for and Recovering from Disasters.
Unfortunately, natural disasters, including tornadoes, flooding, and other catastrophes, occur in Arkansas and nearby states, making you vulnerable to storm damage. Put your financial disaster plan in place before it's time to batten down the hatches. Visit the links below for more information.
- Rebuilding Records After a Natural Disaster, from the IRS
- Reconstructing Your Records, Tips from the IRS
- Recovering Financially and Replacing Vital Documents, American Red Cross
- Picking Up the Pieces After a Disaster Guidebook, American Red Cross
- Disaster Preparedness Articles from AICPA
AICPA Benevolent Fund for CPAs
The AICPA Benevolent Fund was created to support AICPA members with short-term personal financial needs. For example, the Fund can potentially help individuals who are experiencing temporary loss of income, increases in cost of living, insurance deductibles, and replacement costs associated with natural disasters. The Fund focuses its assistance on individual members (rather than businesses). Eligibility is limited to current AICPA members; surviving spouse of a member, at the time of their death; dependent children (under age 21) of an AICPA member.
Learn about the AICPA Benevolent Fund, a benefit that supports active AICPA members through temporary periods of financial difficulty. Visit the AICPA Benevolent Fund website to download an application for assistance, or reach out with questions by phone at (866) 527-222 or email benevolent_fund@aicpa.org to connect with a Fund Administrator.
Caring for an Elderly Parent
Caring for an elderly family member is undoubtedly rewarding. Still, it often comes with financial challenges, mainly when they use their income to cover medical expenses, household bills, and various fees. Following is guide that outlines available options to help alleviate the economic impact of caregiving, including details on tax benefits and paid caregiver programs.
You can view it here: https://www.caring.com/caregivers/finances/.
Tips for Tax Preparation
Many people each year will be looking for someone to help them file a tax return. Taxpayers are responsible for all of the information on their income tax return, no matter who prepares the return. These taxpayers should choose their tax return preparer wisely.