Search Results: keywords:"wildfire relief payments"

  • H. R. 5863 — An Act To provide tax relief with respect to certain Federal disasters.
    Status:Engrossed in House
    Words:872

    H.R. 5863, known as the “Federal Disaster Tax Relief Act of 2023,” aims to provide tax relief for individuals affected by certain federal disasters. The bill extends the rules for treating disaster-related personal losses and excludes wildfire relief payments from gross income. It also treats...

    Simple Explanation

    H.R. 5863 wants to help people with their taxes if they were hurt by things like big wildfires or accidents. It tries to make it easier for them not to pay extra money on some kinds of help they get.

  • S. 3711 — To provide tax relief with respect to certain wildfire relief payments.
    Status:Introduced in Senate
    Words:497

    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.