Disaster Casualty Losses: Tax Implications

Several areas of the tax code are intended to offer relief for taxpayers affected by disaster events. Learn where to find up to date IRS guidance for areas affected by a disaster, determine which areas have been approved for tax postponements and how to easily contact the IRS Disaster Hotline and how to determine state conformity with IRS relief. This course will review the available options for accessing retirement funds penalty free with favorable repayment terms. We'll also cover valuable information related to tax issues for deductible disaster losses, the taxability of insurance and other funds received related to the disaster, including basis calculations for property and involuntary conversions of destroyed property. Affected tax practitioners can also provide relief to clients who may not be in the disaster area.

2 IRS CE/2 NASBA CPE*

"Our best deal is always to become a monthly subscriber"
https://taxpracticepro.com/become-a-subscriber

*Self-Study recording not available for NASBA CPE credit.