H.R. 6938 aims to amend the Internal Revenue Code of 1986 to bring back the deduction for personal casualty losses, which was removed by the Tax Cuts and Jobs Act. The bill would allow taxpayers to claim casualty loss deductions on returns for tax years starting after...
Simple Explanation
In a bill called H.R. 6938, Congress wants to let people count certain bad things that happened to them, like a house getting damaged in a storm, on their taxes to help them pay less. This was allowed before but got taken away, and now they want to bring it back so people can fix their old taxes and maybe get some money back.