disaster and theft losses

IRS news/announcements

IRS Gives Victims Of Hurricane Sally Extra Time To File Returns And Make Some Payments
ByKelly Phillips Erb September 25, 2020September 25, 2020

Days after the Internal Revenue Service (IRS) announced tax relief for victims of victims of the Oregon wildfires and straight-line winds, the IRS has announced similar relief for victims of Hurricane Sally. Those taxpayers who were affected by the storm that began on September 14 now have until January 15, 2021, to file individual and business…

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Individual | Tax policy

Deduct This: History Of The Casualty, Disaster & Theft Deduction
ByKelly Phillips Erb July 2, 2011May 19, 2020

As I sat on my parents’ deck last week, I could see huge plumes of smoke in the distance. The fire in Pender County, NC, where my parents live had reached nearly 30,000 acres (or about 47 square miles) by the time we were headed home. A lack of rain kept fires burning there for…

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