Casualties and Disasters: Understanding Tax Laws
Author: Susan Harper
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Explore casualties and disaster taxation with Susan Harper, Certified Fraud Examiner, and former IRS Internal Revenue Agent of 34 years. This course will help you maximize the benefits available to your clients who have suffered personal and/or business casualties and disasters. With 20 years instructing CPE courses, Susan will deliver an entertaining and informative discussion to address disaster-related provisions of tax law while sharing interesting case stories.
Publication Date: May 2025
Topics Covered
- Casualties Defined
- Calculating the Loss Deduction
- Safe Harbors
- Involuntary Conversions
- Reporting the Casualty Loss Deduction
- Timing and Deductibility of Loss
- Disaster Relief Payments
- Postponed Deadlines
Learning Objectives
- Identify how to claim a loss for a personal casualty
- Explain how to calculate the amount of a casualty loss
- Explain how to apply the casualty loss deduction limits
- Explain how to report a casualty loss
- Identify the taxation of disaster-related provisions
- Identify types of relief for disaster victims
- Identify where to find useful resources related to disasters
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
