Explanation of the New Wildfire Relief Payment Exclusion

date
January 14, 2025
|
3:00 pm
Credit
1 IRS CE/1 NASBA CPE*
Description

This program reviews the provisions of the new bill H.R. 5863. This bill, signed in to law by President Biden on Dec. 12, 2024, extends the rules for the treatment of certain disaster-related personal casualty losses and provides tax relief for losses due to a federally declared disaster as a result of any forest or range wildfire and the East Palestine, Ohio, train derailment on February 3, 2023. It also details exclusion from income payments related to these disasters and extends the statute for claiming refunds related to disasters specified in the bill to one year from date of signing.

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

IRS Course #7Q3WU-T-00707-25

Price
$39.00
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Meet Your Speakers

Jane Ryder

,

EA, CPA

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