Tax Relief for Victims of Crimes, Scams, and Disasters Act
This bill restores the federal tax deduction for personal losses caused by theft, scams, and natural disasters, even if they were not part of a federally declared disaster. Because this deduction was restricted starting in 2018, the bill applies retroactively to all tax years since then. It also temporarily extends the filing deadline so eligible taxpayers can amend past tax returns and claim refunds for overpaid taxes.
What this bill touches.
Who it helps · who it burdens.
Who it helps
- Taxpayers with personal casualty or theft lossesCan claim a federal income tax deduction for personal casualty and theft losses that are not related to federally declared disasters (retroactive to tax years after 2017), and are granted an extended deadline to file amended returns and claim refunds for previous years (Sec. 2, Sec. 3).
The provisions, in plain language.
Restores the federal income tax deduction for individuals who experience personal casualty and theft losses—such as from crimes, scams, or accidents—for tax years beginning after December 31, 2017, removing the restriction that limited deductions to losses from federally declared disasters.
Extends the deadline for taxpayers to file amended returns and claim tax credits or refunds for previously disqualified personal casualty and theft losses from tax years ending before 2025, allowing claims through the tax filing deadline for the year this law is enacted.
How your members of Congress line up
How it moved.
- Referred to the House Committee on Ways and Means.
- Introduced in House
- Introduced in House