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Friday, October 17, 2025 Live Webcast

Casualty Losses: Disaster Relief Act of 2024 (X2-54510)

5:00 PM - 6:00 PM EDT
webcast

Vendor Platform

1 CPE Credits in TX

OVERVIEW

Literally thousands of individual taxpayers may have increased deductions or exclusions from gross income as a result of the Disaster Relief Act of 2024! Casualty provisions of the Act are retroactive to December 19, 2019 through early 2025. Both low and high income taxpayers may benefit from the Act through exclusions of payments received as compensation for wildfire damages - retroactive to 2014! This course will review the provisions of this new act.

DESIGNED FOR

CPAs and members in industry seeking an in-depth review of the Disaster Relief Act of 2024 and with clients experiencing casualty losses.

BENEFITS

After attending this presentation, you will be able to...

    Implement practical strategies based on a thorough understanding of the complex rules for casualty losses and casualty gains
  • Identify and recall key compliance issues
  • Identify and recall significant issues in the casualty loss tax form

HIGHLIGHTS

The major topics that will be covered in this course include:

  • Federal Disaster Relief Act provisions enacted in December, 2024
  • Comparison of personal use casualties with business/investment casualties
  • When to claim casualty losses
  • How to postpone casualty gains
  • Business casualty gains and depreciation recapture

COURSE LEVEL

Intermediate

PREREQUISITES

Basic working knowledge of individual and business taxation.

ADVANCE PREPARATION

None

INSTRUCTOR

Steven Dilley

Steven C. Dilley, CPA, J.D., Ph.D.
(4.4)

Steven C. Dilley, CPA, J.D., Ph.D. is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his Ph.D. in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.