118th Congress · HOUSE BILLBILL

H.R. 4539 — Casualty Loss Deduction Restoration Act

“To amend the Internal Revenue Code of 1986 to repeal the temporary limitation on personal casualty losses.”

Taxation

Introduced Jul 11, 2023

Last action Jul 11, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 11, 2023

Step 2

Referred

Jul 11, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill eliminates the suspension period (2018 through 2025) for the tax deduction for personal casualty lossess and increases from $10,000 to $50,000 the limitation on allowable amount of the deduction.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jul 11, 2023

Introduced in House

Jul 11, 2023

Referred to the House Committee on Ways and Means.