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HR 5366119th CongressIn Committee
Federal Disaster Tax Relief Act of 2025
Introduced: Sep 15, 2025
Sponsor: Rep. Steube, W. Gregory [R-FL-17] (R-Florida)
Economy & Taxes
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Federal Disaster Tax Relief Act of 2025 amends the Internal Revenue Code to codify and extend rules for personal casualty losses arising from major disasters and to provide tax relief for wildfire victims. It allows individuals to deduct qualified disaster losses without the 10% adjusted gross income limitation and excludes compensation for wildfire-related losses from gross income.
Key Points
- 1Extends casualty loss deduction for qualified disasters
- 2Provides special rule for qualified disaster losses
- 3Excludes wildfire compensation from gross income
- 4Applies to disasters after July 4, 2025
- 5Covers taxable years beginning after December 31, 2024
- 6Includes alternative minimum tax treatment
Impact Areas
Tax policyDisaster reliefWildfire victimsFederal income taxCasualty lossesTax credits and deductions
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