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FEMA

Q&A: Government financial help after disaster may come as a loan

November 20, 2017 By Liz Weston

Dear Liz: With all the recent hurricanes and other natural disasters, people are being helped by the Federal Emergency Management Agency with money for rentals or home replacements. What repayment does the government expect? Are there taxes owed by the recipients of that money?

Answer: FEMA grants aren’t taxable, but they’re typically not enough to replace a home. FEMA may provide up to $33,000, but the typical grant is much smaller — in the $3,000-to-$8,000 range, according to recent data from the agency.

Most financial assistance after a disaster comes in the form of low-interest loans to renters and homeowners, offered through the Small Business Administration. Recipients are expected to repay those loans.

Filed Under: Q&A, Taxes Tagged With: disaster relief, FEMA, q&a, Taxes

Wednesday’s need-to-know money news

September 18, 2013 By Liz Weston

House With Tree DamageDealing with debt collectors, surviving natural disasters, and getting the best deals on car insurance.

How to Figure Out Who Your Debt Collector Is
Know who’s behind the incessant phone calls.

If Your Finances Feel ‘Complex,’ It’s Probably a Bad Sign
If sorting through your finances requires a Ph.D, chances are you’re in deep trouble.

4 New Online Money Management Tools Worth A Try
New tools that can make your financial management time more productive.

What you need to know about applying for FEMA disaster assistance
As natural disasters spread across the United States, FEMA is prepared to help.

Do You Have the Right Car Insurance?
Don’t miss out on the best deal for you vehicle.

Filed Under: Liz's Blog Tagged With: car insurance, debt, debt collection, disasters, FEMA, financial adviser

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