LAFAYETTE, La. (KLFY) – Many in the area have moved on from the August floods of 2016.

Although you may not want to completely remove it from your memory quite yet.

Due to the new tax bill in Washington, help may finally be coming.

The tax overhaul passed by Congress on Wednesday allows many who lost property in the floods to write off more than their losses on their federal tax returns.

According to several congressional staffers and Louisiana tax experts, the time to claim benefits is now.

The Congressional Budget Office estimates with the changes that Louisianans would save roughly $500 million in federal taxes.

Provisions could also add another $300 million to the Gulf Coast region for coastal restoration.

U.S. Senator Bill Cassidy and Rep. Ralph Abraham say they pushed to include a retroactive tax break for flood victims.

“There were some dicey moments, but we got it through. It was in play almost to the end,” says Cassidy.

Anyone with more than $500 in losses from the 2016 floods that weren’t covered by insurance or government grants will now be able to deduct those costs from their taxable income.

Even if they didn’t itemize deductions on their taxes and claimed the standard federal deduction instead.

“We still have folks living with bare floors and sheetrock. This will bring millions into Louisiana to help families recover and rebuild,” says Cassidy.

Victims will be able to deduct all of their uncompensated personal property losses by filing an amended return to their 2016 tax returns.