HR 5863

[DianeMy]

Do I have to go back and amend returns for 2020-2023 for PGE Fire Victim payments I reported as income or can I take a deduction on my current 2024 for the past payments I declared as income?  I prefer to take it this year rather than go back and amend returns, thereby opening them up to extended audit period.

[AmyC]

Yes. You will need to amend the years affected. If you suffered each of those years, then you will need to amend each and yes, extend the audit period. You have one year to file all affected years for a refund.

Reference: 

HR 5863