disaster loss:
(1968)
1. A casualty loss sustained in a geographic area that the President designates as a disaster area. * It may be treated as having occurred during the previous tax year so that a victim may receive immediate tax benefits. [1]
References:
Disclaimer: All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use.
[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4
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