S 1133
116th Congress
Senate
Taxation
Charitable contributions
Disaster relief and insurance
Employee benefits and pensions
Housing finance and home ownership
Income tax credits
Income tax deductions
Income tax exclusion
Wages and earnings
Disaster Tax Relief Act of 2019
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 10, 2019
Read twice and referred to the Committee on Finance.
Apr 10, 2019
Introduced in Senate
Plain-English summary
Disaster Tax Relief Act of 2019
This bill allows various tax credits, tax deductions, and modifications to existing rules for individuals and businesses affected by federally declared disasters that occurred after December 31, 2018, and before April 15, 2019.
With respect to individuals and businesses in the affected areas, the bill
- waives the 10% additional tax on certain early distributions from retirement plans,
- permits individuals to recontribute funds to retirement plans if the funds were distributed for a home purchase that was cancelled on account of a disaster,
- increases the limit and extends the repayment deadline for loans from retirement plans,
- allows an employee retention tax credit for employers affected by disasters,
- temporarily increases the limitation on tax deductions for charitable contributions for relief efforts in disaster areas,
- modifies the rules for the deduction for personal casualty losses, and
- allows taxpayers residing in disaster areas to use earned income from the immediately preceding year for the purpose of determining earned income for the earned income tax credit and the child tax credit.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1