Search Results: keywords:"qualified 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. 9837 — To exclude from gross income certain emergency assistance provided to farmers.
    Status:Introduced in House
    Words:295

    H. R. 9837 is a bill introduced in the House of Representatives that aims to change the tax code to help farmers. Specifically, it would allow certain emergency assistance they receive, like help from programs dealing with natural disasters such as wildfires and hurricanes,...

    Simple Explanation

    In simple words, this bill wants to help farmers by making sure that any emergency money they get when bad things like wildfires or hurricanes happen doesn't count as income they have to pay taxes on, starting in 2024.

  • H. R. 5863 — To provide tax relief with respect to certain Federal disasters.
    Status:Reported in House
    Words:1,094

    H.R. 5863, known as the "Federal Disaster Tax Relief Act of 2023," aims to provide tax relief connected to certain federal disasters. The bill proposes extending tax rules for personal casualty losses, allowing people affected by specific disasters like wildfires to exclude certain relief...

    Simple Explanation

    H.R. 5863 is a law that helps people affected by big disasters, like fires or a train accident, by letting them keep more of their money. It says some of the money they get for help doesn't count as income, so they don't have to pay taxes on it.