Reinstates deduction for personal casualty losses prior to Public Law 115–97.
The Tax Relief for Victims of Crimes, Scams, and Disasters Act amends the Internal Revenue Code to reinstate the deduction for personal casualty losses as in effect before the enactment of Public Law 115–97. This change applies to taxable years beginning after December 31, 2017. Additionally, it extends the time for filing a claim for credit or refund for personal casualty loss deductions for returns filed before January 1, 2025.
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