Search Results: keywords:"texas panhandle fires"

  • S. 496 — To exclude certain amounts relating to compensating victims of the Texas Panhandle fires, and for other purposes.
    Status:Introduced in Senate
    Words:708

    S. 496, also known as the "Wildfire Victim Tax Relief and Recovery Act," aims to provide financial relief to individuals affected by the Texas Panhandle fires. The bill treats compensation for losses and damages from these fires as tax-exempt disaster relief payments under the Internal...

    Simple Explanation

    This bill wants to help people who lost things in the Texas fires by not making them pay taxes on the money they get to fix or replace their stuff. It also gives farmers more time to get new animals if they had to sell theirs because of the fire.

  • 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.

  • H. R. 1169 — 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. 1169, titled the “Wildfire Victim Tax Relief and Recovery Act,” proposes tax relief measures for victims of the Texas Panhandle fires. The bill treats compensation received due to specific wildfires in 2024 as qualified disaster relief payments, which are not taxed. It also amends the...

    Simple Explanation

    H.R. 1169 is a plan to help people affected by fires in Texas by not making them pay taxes on special money they get to help fix their problems. It also gives farmers and ranchers special tax breaks if they had to sell their animals because of these fires.

  • 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.