Federal Disasters: How to Deduct Personal Casualty Losses

Overview

Literally thousands of individual taxpayers may have increased deductions or exclusions From gross income as a result of the Disaster Relief Act of 2023 & OBBBA of 2025. Casualty provisions are retroactive to December 19, 2019 through late 2025. Both low & high-income taxpayers may benefit From RETROACTIVE AND CURRENT deductions. There are also exclusions of payments received as compensation for wildfire damages -- retroactive to 2014! This course will review these provisions which can bring substantial tax savings to clients.

Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab & submit to terri.storer@acpen.com