To provide for disaster tax relief.
2018 Natural Disasters Tax Relief Act
This bill permits penalty-free distributions from tax-exempt retirement plans for disaster-related purposes. It also allows an employer whose business was closed during a natural disaster an employee retention credit for 40% of the first $6,000 in wages paid to an eligible employee.
The bill allows a temporary suspension of limitations on charitable contributions made for relief efforts in one or more qualified disaster areas and sets forth special rules for personal casualty losses and for determining the earned income tax credit for individuals residing in qualified disaster areas or zones.
The bill provides for a mandatory 60-day extension of certain tax deadlines for individuals and business owners in a disaster area.
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Ways and Means.
Placed on the Union Calendar, Calendar No. 300.
Read twice and referred to the Committee on Finance.
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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