As a local accountant, I have clients in Westlake Village and throughout the Conejo Valley. As we all know, in our area we’re subject to a variety of disasters – fires, floods and good old-fashioned earthquakes.

It’s difficult enough dealing with these disasters – repairing and rebuilding as necessary. If you have good insurance in place, then the job becomes much more manageable. But even with insurance you’re often left with a casualty loss. In this case, one of the common questions I hear is, “Will filing a casualty loss prompt an IRS audit?”

Good question! And the quick answer is – no one knows! No one, that is, outside of the IRS – and they ain’t talking.

Still, we have indications of the process the IRS uses to select audits, and I’ve written more about this on my Accountant For Disaster Recovery blog.