Search Results: keywords:"disaster relief payments"

  • H. R. 5863 — An Act To provide tax relief with respect to certain Federal disasters.
    Status:Enrolled Bill
    Words:871

    H.R. 5863, titled the "Federal Disaster Tax Relief Act of 2023," aims to offer tax relief for individuals affected by certain federal disasters. It extends previous rules for handling personal losses due to disasters and excludes from gross income any compensation received for losses from...

    Simple Explanation

    The Federal Disaster Tax Relief Act of 2023 wants to make it easier for people who lost things in big disasters to get money without having to pay taxes on it, especially when bad wildfires or train accidents happen. It tries to help by saying these disaster payments are like special gifts and not counted as money you earn, so you don’t have to tell the tax folks about them.

  • H. R. 9155 — To exclude certain amounts relating to compensating victims of the Texas Panhandle fires, and for other purposes.
    Status:Introduced in House
    Words:693

    H.R. 9155, titled the "Wildfire Victim Tax Relief and Recovery Act," aims to provide tax relief to victims of the Texas Panhandle fires. It considers compensation received for losses and damages from these fires as disaster relief payments, making them non-taxable according...

    Simple Explanation

    H.R. 9155 is like a helpful friend who says, "If a fire burned your home or farm animals in the Texas Panhandle, don't worry about paying taxes on the money you get to fix things," so people won't have to pay extra money to the government while getting back on their feet.

  • H. R. 5863 — An Act To provide tax relief with respect to certain Federal disasters.
    Status:Referred in Senate
    Words:871

    H.R. 5863, titled the “Federal Disaster Tax Relief Act of 2023,” aims to provide tax relief related to specific federal disasters. The bill extends rules for handling personal financial losses due to disasters and allows individuals to exclude from taxable income certain...

    Simple Explanation

    H.R. 5863 is a plan to help people save money on their taxes after certain big disasters like wildfires or accidents, so they don’t have to pay taxes on some of the help they get if they aren’t already covered by insurance.

  • H. R. 9918 — To exclude from gross income certain relief payments to the victims of the Chiquita Canyon elevated temperature landfill event.
    Status:Introduced in House
    Words:396

    H.R. 9918, also known as the “Chiquita Canyon Tax Relief Act,” is a bill introduced in the House of Representatives to help the victims of the Chiquita Canyon elevated temperature landfill event. The bill proposes that any relief payments received by individuals as compensation for losses or...

    Simple Explanation

    H.R. 9918 is a bill that says if people get money to help fix problems from a big landfill mishap that happened in California in 2022, they don't have to pay taxes on that money. The bill also lists who could give this money, like the government or a specific company, starting from March 2024.

  • S. 4806 — To exclude certain amounts relating to compensating victims of the Texas Panhandle fires, and for other purposes.
    Status:Introduced in Senate
    Words:708

    S. 4806 aims to assist victims of wildfires in the Texas Panhandle by treating funds received as disaster relief payments under the tax code, making these payments exempt from federal income tax. The bill also allows for flexibility in tax treatment for livestock sales forced...

    Simple Explanation

    S. 4806 is a law to help people who lost things in big fires in Texas, saying that the help money they get won't be taxed, and it makes special rules for people who had to sell animals because of the fires.