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Beyond the 1040®: Casualty and Disaster Losses

 

Course Year: 2013
Course Level: Intermediate
Prerequisite: Basic tax knowledge
Advance Preparation: None
Delivery Method: Self-Study

Note: This course is also included in the Beyond the 1040 course.

CPE Credits Designation Field of Study
IRS * 2 EA Federal Tax Law Topic
NASBA 0 CPA N/A
CTEC 2 CRTP Federal Tax Law Topic
CFP Board 0 CFP® N/A

 

* NATP will report CPE credits to the IRS for all PTIN holders. CPE is currently not mandatory for RTRPs or RTRP candidates and any option to register or participate in this program is strictly voluntary.

 

Fees: $46 for Members and $56 for Nonmembers

Summary
After taxpayers suffer a casualty or disaster, taxes are probably the last thing on their minds. Tax laws can offer some help for loss victims and victims of a presidentially declared disaster could use their tax filing to obtain much-needed cash. This course helps a tax professional to identify casualty and disaster losses and determine the assistance available to disaster victims. Additionally, insurance reimbursements and disaster payments, reconstruction of records and calculation and reporting of losses are covered. 

Objectives
Upon completion of this course, the tax professional will be able to:

  • Identify casualty and disaster losses.
  • Determine how to handle insurance reimbursements and disaster payments.
  • Explain how to reconstruct a taxpayer’s records.
  • Calculate and report the loss on Form 4684, Casualties and Thefts.
  • Calculate the basis of replacement property.

For more information regarding refund, complaint and/or program cancellation policies, please contact our Member Services Department at 800.558.3402, ext. 3.

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PO Box 8002, Appleton, WI 54912-8002 Phone: 800.558.3402 Fax: 800.747.0001

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