To amend the Internal Revenue Code of 1986 to establish a deduction for attorney fees awarded with respect to certain wildfire damages and to exclude from gross income settlement funds received with respect to such damages.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 30, 2022)
This bill allows a deduction from gross income (above the line deduction) for attorney fees and court costs awarded with respect to a qualifying wildfire disaster (i.e., any forest or range fire that is a federally declared disaster, occurs in a disaster area, and occurs in 2015 or later).
The bill excludes from the gross income of a taxpayer, for income tax purposes, amounts paid to compensate victims for losses or damages in connection with a qualifying wildfire disaster.
What just happenedMar 30, 2022
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseMar 30, 2022
- Mar 30, 2022IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Mar 30, 2022IntroReferralIntro-H
Introduced in House
- Mar 30, 2022IntroReferral1000
Introduced in House