Extension of time to file claim for credit or refund for personal casualty loss deduction

(a) In general In the case of a taxpayer who filed a return for a taxable year ending before January 1, 2025, with respect to which a deduction could have been taken by the taxpayer under section 165(a) of the Internal Revenue Code of 1986 but for the fact that such deduction was suspended under section 165(h)(5) at the time of filing— (1) the period of limitation prescribed by section 6511(a) of such Code on filing a claim for credit or refund for any such taxable year shall be extended until the date prescribed by law (including extensions) for filing the return of tax for the taxable year that includes the date of the enactment of this Act, and (2) section 6511(b)(2) of such Code shall not apply to any claim of credit or refund with respect to such return. (b) Extension restricted to personal casualty loss deduction Subsection (a) shall apply only with respect to a claim for credit or refund of a taxpayer to the extent such claim relates to an overpayment attributable to the deduction under section 165(a) for personal casualty losses described in section 165(c)(3) of the Internal Revenue Code of 1986.