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- H.R.7305
H.R.7305: 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.
About This Bill
- Introduced March 30, 2022
- Latest Major Action March 30, 2022
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
14 (12 Democrats, 2 Republicans)
Bill Version
- Introduced in House - March 30, 2022
Bill Summary
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...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
Date | Description |
---|---|
March 30, 2022 |
Referred to the House Committee on Ways and Means.
|
March 30, 2022 |
Introduced in the House by Mike Thompson (D-Calif.) |