Federal Disaster Loss Update
A new federal disaster bill, H.R. 1491, was signed into law on Friday, January 3, 2026. This bill, effective as of date of enactment, specifically extends the statute of limitations for taxpayers filing refund claims related to federal disaster losses. The general three year statute of limitations for refund claims is extended to be three years from any applicable tax postponement deadline. Disaster tax postponement deadlines will now be treated as income tax extensions for the purpose of expanding the three year statute of limitations for disaster refund claims. Based on the verbiage of the bill, other non-disaster tax issues addressed in an amended return will also be eligible for the expanded three year statute of limitations. The bill also suspends certain IRS collection letters during a disaster postponement period. It is notable that this latest federal disaster bill did not extend the dates for a Qualified Federal Disaster deduction which were last extended under OBBBA.
*Self-Study recording not available for NASBA CPE credit.
IRS Program #: 7Q3WU-U-00864-26
CTEC Course #: 6248-CE-00224
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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