Federal Disaster Tax Relief Act of 2025

The bill introduced in the 119th Congress with the title "A bill to amend the Internal Revenue Code of 1986 to codify and extend the rules for personal casualty losses arising from major disasters and the rules for the exclusion from gross income of compensation for losses or damages resulting from certain wildfires" aims to make amendments to the Internal Revenue Code related to personal casualty losses from major disasters and the exclusion of income for losses or damages caused by specific wildfires.