The One Big Beautiful Bill Act, enacted on July 4, 2025 as Public Law 119-21, introduced a wide range of changes that will impact tax returns for the 2025 tax year and beyond.
The Tax Cuts and Jobs Act of 2017 limited the itemized deduction for personal casualty losses to losses resulting from a federally declared disaster. The OBBBA made this provision permanent, but the OBBBA expanded the provision to include certain state-declared disasters starting in 2026.
TaxSlayer Pro strives to make the information on this page timely and accurate but makes no promise or guarantee about the timeliness, accuracy, or completeness of the contents of this page. This is general information and is not intended to be tax advice. You are encouraged to also review the underlying federal resources and publications.