Posts Tagged ‘IRS Help’

How IRS Can Help Business Owners Hurt by COVID Disaster Quick Summary: Disaster Area Declaration – Internal Revenue Code Sec. 165(i) Disaster losses in the current year can be taken on a prior year’s return (i.e., 2020 losses stemming from COVID-2019 can be taken on the 2019 return) The loss/deduction would need to be substantiated by…