To amend the Internal Revenue Code of 1986 to increase the dollar threshold applicable to information reporting with respect to payments for qualified natural disaster expenses.

2/7/2025, 9:05 AM

Summary of Bill HR 1093

Bill 119 HR 1093 aims to make changes to the Internal Revenue Code of 1986 in order to raise the dollar threshold for information reporting on payments made for qualified natural disaster expenses. This bill is designed to provide relief to individuals and businesses who have been affected by natural disasters by increasing the amount of money that can be spent on recovery efforts without triggering additional reporting requirements.

The current threshold for reporting payments for qualified natural disaster expenses is set at $600. This bill proposes to increase that threshold to $1,000, allowing individuals and businesses to spend more money on recovery efforts without having to worry about additional reporting requirements.

By raising the threshold for reporting payments for qualified natural disaster expenses, this bill aims to streamline the process for individuals and businesses seeking to recover from natural disasters. This change would provide much-needed relief to those who have been impacted by natural disasters and help them get back on their feet more quickly. Overall, Bill 119 HR 1093 seeks to make it easier for individuals and businesses to recover from natural disasters by increasing the dollar threshold for information reporting on payments for qualified natural disaster expenses.

Current Status of Bill HR 1093

Bill HR 1093 is currently in the status of Bill Introduced since February 6, 2025. Bill HR 1093 was introduced during Congress 119 and was introduced to the House on February 6, 2025. Bill HR 1093's most recent activity was Referred to the House Committee on Ways and Means. as of February 6, 2025