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.
If you live in a disaster area, you could get more tax credits by using your income from last year.
Who this affects
Individuals in disaster areas · Families in disaster areas
What changes is this bill making?
1This bill allows people affected by disasters to use their previous year's income for tax credits.
2It applies to individuals living in areas declared disaster zones by the government.
3Taxpayers can choose to use their earned income from the prior year if it was higher.
4The bill also considers social security taxes in the same way for tax credits.
5This change helps disaster victims receive more financial support through tax credits.
