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Creates a temporary tax “lookback” for people who live in certain federally declared disaster areas so they may use the prior year’s earned income (or Social Security taxes) if that year’s income was higher than their income in the disaster year. The rule defines who qualifies, explains treatment for joint returns, treats mistakes under the rule as math/clerical errors, and applies to tax years beginning after enactment.
Referred to the House Committee on Ways and Means.
Introduced June 12, 2025 by Timothy M. Kennedy · Last progress June 12, 2025