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Tax Relief for Victims of Crimes, Scams, and Disasters

This act reinstates the ability to deduct personal losses from crimes, scams, or disasters, which was not possible since 2018. This means citizens who suffered such losses can once again claim a tax deduction. Additionally, the act opens a window for filing amended tax returns for years starting from 2018 to claim this relief.
Key points
You can once again deduct financial losses from crimes, scams, or disasters, such as theft or property damage, from your taxes.
If you incurred such losses between 2018-2021 and couldn't deduct them, you can now file an amended tax return and claim a refund for overpaid taxes.
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Expired
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Additional Information
Print number: 118_HR_6938
Sponsor: Rep. Raskin, Jamie [D-MD-8]
Process start date: 2024-01-10
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Tax Relief for Victims of Crimes, Scams, and Disasters Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6938.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-01-10.

What are the main provisions?

Key points include:

  • You can once again deduct financial losses from crimes, scams, or disasters, such as theft or property damage, from your taxes.
  • If you incurred such losses between 2018-2021 and couldn't deduct them, you can now file an amended tax return and claim a refund for overpaid taxes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Raskin, Jamie [D-MD-8].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes