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.
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*Self-Study recording not available for NASBA CPE credit.
Jane Ryder
,
EA, CPA
Jane Ryder, EA, CPA is a national speaker on many accounting, tax, and business compliance topics. She runs her CPA firm, Brass Tax Ryder Professional Group, Inc.in San Diego, California. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980.Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S corporations, LLCs, Partnerships, and Trusts. She also specializes in IRS and state agencies collections, audit appeals, offers in compromise, and other compliance related matters.
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