Tax Relief for Disaster Victims
Official: Tax Fairness for Disaster Victims Act
This bill helps people who live in disaster areas by allowing them to use their previous year's income to qualify for tax credits. This can provide much-needed financial relief after a disaster strikes.
1. This bill allows people affected by disasters to use their previous year's income for tax credits. 2. It applies to individuals living in areas declared disaster zones by the government. 3. Taxpayers can choose to use their earned income from the prior year if it was higher. 4. The bill also considers social security taxes in the same way for tax credits. 5. This change helps disaster victims receive more financial support through tax credits.
Individuals and families living in federally declared disaster areas.