FEMA Notice: Mississippi Water Crisis Emergency Declaration (IRC §165)

Emergency declared for parts of Mississippi due to water crisis beginning Aug. 30, 2022, and continuing, the Federal Emergency Management Agency (FEMA) announced Aug. 31. FEMA stated that the president has declared that an emergency exists in Hinds county. The emergency declaration is considered a federally declared disaster allowing taxpayers residing in the affected areas to elect under tax code Section 165(i) to claim casualty losses on their 2021 or 2022 tax returns. [FEMA HQ-22-112 (Aug. 31, 2022)]

Reference:
View Source Document.