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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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Additional Information
Tax Relief for Victims of Crimes, Scams, and Disasters Act
Print number: HR 6938
Sponsor: Rep. Raskin, Jamie [D-MD-8]
Process start date: 2024-01-10