S. 3173 · 117th Congress
Claiming Losses After Disasters Act
- Stage
- In committee
- Sponsor
- John Kennedy
- Introduced
- 2021-11-04
- Latest action
- 2021-11-04 · Introduced in Senate
Summary
Claiming Losses After Disasters Act
This bill revises the tax deduction for personal casualty losses arising from major federally-declared disasters. It replaces the current requirement that such losses exceed 10% of a disaster victim's adjusted gross income before a deduction can be claimed with a minimum threshold of $500 in losses per disaster.