Tax Section Odyssey Mastering disaster tax relief
On this episode uncover the latest updates related to disaster tax relief with the “Master of Disaster” Jerry Schreiber, CPA, and Brandon Nishnick, Manager, Tax Practice & Ethics — AICPA & CIMA. Hear valuable insights and practical advice for tax practitioners who are dealing with disaster-related tax issues.
What you’ll learn from this episode: • The latest legislation related to tax disaster relief • What’s considered a “qualified disaster” for tax purposes • Practical considerations around filing extensions for tax returns postponed due to disasters • State disaster tax relief resources available • How to obtain disaster relief when records are located in a disaster area
AICPA resources
Disaster Relief Resource Center — Preparing for disasters beforehand, deciphering tax relief opportunities and accessing resources during the recovery process help to protect personal and business assets. In the event of a disaster, AICPA & CIMA are here to help and provide resources to help you get on the road to personal and financial recovery.
State Disaster Tax Relief Guide — There is inconsistency in the tax relief states offer following federally declared disasters. This resource serves as a guide to reduce confusion.
IRS resources
IR-2025-41 — IRS reminder: Disaster victims in twelve states have automatic extensions to file and pay their 2024 taxes.
Publication 547, Casualties, Disasters, and Thefts — This IRS publication explains the tax treatment of casualties, thefts and losses on deposits.
Other resources
Federal Emergency Management Agency (FEMA) — Bookmark the FEMA website for FEMA responses to all declared domestic disasters and emergencies, whether natural or man-made.
Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices.
This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you’re not already a member, consider joining this prestigious community of your tax peers. You’ll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.