HR 176
118th Congress
House
Taxation
To amend the Internal Revenue Code of 1986 to establish a deduction for attorney fees awarded with respect to certain wildfire damages and to exclude from gross income settlement funds received with respect to such damages.
Introduced: January 9, 2023
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 10, 2023
Sponsor introductory remarks on measure. (CR H120)
Jan 9, 2023
Referred to the House Committee on Ways and Means.
Jan 9, 2023
Introduced in House
Plain-English summary
This bill allows a deduction from gross income (above the line deduction) for attorney fees and court costs awarded with respect to a qualifying wildfire disaster (i.e., any forest or range fire that is a federally declared disaster, occurs in a disaster area, and occurs in 2015 or later).
The bill excludes from the gross income of a taxpayer, for income tax purposes, amounts paid to compensate victims for losses or damages in connection with a qualifying wildfire disaster.
What's happening now
Sponsor introductory remarks on measure. (CR H120)
Committees of jurisdiction
1