H.R. 4497 · 113th Congress
To amend the Internal Revenue Code of 1986 to provide tax relief for damages relating to federally declared disasters during September 2013, and for other purposes.
- Stage
- In committee
- Sponsor
- Cory Gardner
- Introduced
- 2014-04-28
- Latest action
- 2014-04-28 · Introduced in House
Summary
Amends the Internal Revenue Code, with respect to tax relief for federally-declared disasters, to: (1) allow the expensing of qualified disaster expenses (i.e., for removal of debris, demolition, and repair of business-related property) for a disaster occurring during September 2013; (2) allow individual taxpayers an increased tax deduction for charitable contributions made for relief efforts related to a federally-declared disaster which occurs after August 31, 2013, if such contributions are made by December 31, 2014; and (3) allow corporations an increased tax deduction for disaster-related charitable contributions.