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IRS Makes Few Tweaks in Final Disaster Tax Relief Rules (2)

June 10, 2021, 1:40 PM; Updated: June 10, 2021, 6:34 PM

Final IRS rules putting in place a congressional mandate for natural disaster tax relief largely mirror the agency’s previously proposed version.

The rules (T.D. 9950; RIN: 1545-BP98) move back deadlines for individuals living in, injured or killed in a federally declared disaster area, as well as for businesses and relief workers operating within the area. The regulations also clarify the definition of “federally declared disaster.”

The final rules largely adopt a previously proposed version (REG-115057-20) that the agency released in January. Both versions preserve the IRS’s discretion to determine which declared disasters qualify for ...

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