Tax Matters for Disaster Losses
Date: Monday, August 10, 2026
Instructor: Jane Ryder
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Federal tax treatment of disaster losses is one of the most complex and frequently misunderstood areas of individual taxation—especially as disaster relief legislation continues to evolve. This course provides a clear, structured roadmap for understanding how disaster losses are deducted, when special tax relief rules apply, and how recent disaster legislation can dramatically affect a taxpayer’s available deductions.
Participants will examine each level of federal disaster loss deductions, including losses subject to the 10% of AGI limitation, situations where losses can be deducted without itemizing, and circumstances in which a loss is not deductible at all. The course also addresses income exclusions related to disaster grants, relief funds, and reimbursements, as well as timing considerations for claiming disaster losses in different tax years. With a strong emphasis on practical application, attendees will learn how to evaluate disaster loss scenarios, identify the most advantageous deduction options, and stay current with ongoing disaster-related tax relief changes.
Who Should Attend
This course is designed for CPAs, enrolled agents, and tax professionals who prepare or review individual federal tax returns affected by casualty and disaster losses.
Topics Covered
- Overview of federal disaster loss rules
- Personal casualty and disaster loss deductions
- AGI limitations and exceptions for disaster losses
- Disaster losses deductible without itemization
- Income exclusions for disaster grants and relief payments
- Timing elections for claiming disaster losses
- Impact of federal disaster declarations and event dates
- Resources for tracking disaster-related tax relief
Learning Objectives
- Determine the highest available federal tax deduction for a qualifying disaster loss
- Differentiate between the various levels of federal disaster loss deductions under current law
- Identify taxpayers eligible for exclusions from income related to disaster grants, funds, or relief payments
- Apply federal rules that allow disaster losses to be deducted without itemizing deductions
- Evaluate how changes to disaster event dates and disaster legislation impact allowable tax deductions
- Develop strategies for monitoring and applying current disaster-related tax relief guidance
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
