S. 3711 is a bill intended to offer tax relief to individuals impacted by wildfires by excluding certain payments from being counted as income. Specifically, it ensures that money received to cover losses or damages caused by wildfires is not taxed, as long as those losses...
Simple Explanation
The bill S. 3711 helps people who have lost things in wildfires by making sure the money they get to replace those things isn't taxed as extra income, as long as they didn't already get that loss covered by insurance. It covers fires starting from January 1, 2020, to January 1, 2026.