Hurricanes Ian and Nicole occurred after the TCDTRA 2020 window for the special rules; therefore, losses from these hurricanes do not meet the definition of “qualified disaster loss.” As a result, taxpayers with losses from Ian and Nicole are currently subject to less favorable tax treatment.
The latest AICPA Town Hall features a D.C. and profession update, technical updates, how to deal with changes to Sec. 174 research and experimental costs, and tax season workload management strategies.
The latest AICPA Town Hall features a D.C. and profession update, technical updates, professional liability risk management and tax prep considerations, and an eight-point human capital pipeline plan.