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Referred to the House Committee on Ways and Means.
Restores the federal personal casualty loss deduction that was removed for tax years after 2017, allowing individuals to deduct certain personal losses from casualties (for taxable years beginning after December 31, 2017). It also gives affected taxpayers extra time and a relaxed limitation rule to claim tax credits or refunds tied to those suspended casualty-loss deductions, enabling some amended claims that would otherwise be time‑barred.
Introduced May 15, 2025 by W. Greg Steube · Last progress 9 months ago