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TAX2112 - TAX2112. Disaster Filing Deadlines and Casualty Losses

‐ Jul 29, 2021 1:45pm

This session will take you thru the mechanics of a 7508A filing delay to preparing returns for taxpayers with casualty losses. This session will also provide the participants with an update and review of the necessary information for CPAs to prepare returns for taxpayers affected by natural disasters and assist clients with other recovery matters.

Major Topics include:

  1. Code Section 7508A and how it affects returns
  2. Personal Casualty Losses
  3. Business Casualty Losses
  4. Involuntary Conversions
  5. 121 Exclusions
  6. Personal Property

Learning Objectives:

  • To provide an overview for filing returns for those affected by disasters.
  • Identify how filing delays as a consequence of disasters affects your practice, due dates, and deadlines.
  • Identify how to assist clients who have experienced casualty losses in filing tax returns.


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