Tax Relief for Victims of Crimes, Scams, and Disasters Act

House Bill 6938 - Tax Relief for Victims of Crimes, Scams, and Disasters Act: Overview, Status, and Impact

Hozzl · 2024-02-02T16:15:20Z

Explore the details of House Bill 6938 Tax Relief for Victims of Crimes, Scams, and Disasters Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

2/2/2024, 4:15 PM

Congressional Summary of HR 6938

Tax Relief for Victims of Crimes, Scams, and Disasters Act

This bill reinstates the tax deduction for certain personal casualty losses (e.g., resulting from crimes, scams, natural disasters) by eliminating the suspension period (2018-2025) on such deduction.

The bill also extends the period for filing an amended return for claiming personal casualty losses.

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Current Status of Bill HR 6938

Bill HR 6938 is currently in the status of Bill Introduced since January 10, 2024. Bill HR 6938 was introduced during Congress 118 and was introduced to the House on January 10, 2024. Bill HR 6938's most recent activity was Referred to the House Committee on Ways and Means. as of January 10, 2024

Bipartisan Support of Bill HR 6938

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Republican Cosponsors

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Policy Area and Potential Impact of Bill HR 6938

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 6938

Tax Relief for Victims of Crimes, Scams, and Disasters Act

To amend the Internal Revenue Code of 1986 to reinstate the deduction for personal casualty losses as in effect prior to the enactment of Public Law 115-97 (commonly referred to as the "Tax Cuts and Jobs Act").