Tax Relief for Victims of Crimes, Scams, and Disasters Act
Congress considers restoring tax deductions for personal losses from crime, scams, and disasters
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Would bring back a tax deduction for certain personal losses, like property damage or theft, that many people could not deduct in recent years.
- Makes the change apply to tax years starting after December 31, 2017, which could let some people revisit past tax returns.
- Gives extra time to file for a tax refund or credit for older tax years (before 2025) if you would have qualified for this deduction but couldn’t claim it then.
- The extra time is limited to refunds tied to this specific personal-loss deduction, not other tax issues.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Read twice and referred to the Committee on Finance.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
3 articles
Rep. Steube and Sen. Moody Introduce Tax Relief for Victims of Crimes, Scams, and Disasters Act
Announces introduction of the bill to restore the casualty/theft loss deduction beyond federally declared disasters and apply it retroactively for 2018–2024.
Raskin, Colleagues Introduce Bipartisan Legislation to Provide Tax Relief for Scam, Disaster Victims
Describes the bill’s goal of restoring the casualty and theft loss deduction for victims of scams/crimes and non-federally declared disasters, highlighting endorsements.
AICPA Comment Letter on Tax Relief for Victims of Crimes, Scams, and Disasters Act
Professional-accounting group support letter backing H.R. 3469/S. 1773 to repeal the suspension of personal casualty loss deductions not tied to federally declared disasters.
Source Information
Document Type
Congressional Bill
Official Title
Tax Relief for Victims of Crimes, Scams, and Disasters Act
Data Sources
Sponsor
Cosponsors
(4)Analysis generated by AI. Always verify with official sources.