Hurricane Florence Tax Relief Act

Summary

Hurricane Florence Tax Relief Act This bill allows various tax credits, tax deductions, and modifications to existing rules for individuals and businesses affected by Hurricane Florence. With respect to individuals and businesses in the affected areas, the bill waives the 10% additional tax on early distributions from retirement plans for up to $100,000 in distributions made on or after September 13, 2018, and before January 1, 2020; permits individuals to recontribute funds to retirement plans if the funds were distributed for a home purchase in a Hurricane Florence disaster area that was cancelled on account of the hurricane; increases the limit and extends the repayment deadline for loans from retirement plans; allows an employee retention tax credit for a portion of the wages paid to an employee whose principal place of employment on specified dates was in a Hurricane Florence disaster zone; temporarily suspends the limitation on charitable contributions for relief efforts in the Hurricane Florence disaster area; modifies the rules for the deduction for personal casualty losses; and allows taxpayers to use earned income from the immediately preceding year for the purpose of determining earned income for the earned income tax credit and the child tax credit.

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Timeline

1. 14 January 2019

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 14 January 2019

   Introduced

   Introduced in House

   Source: IntroReferral

3. 14 January 2019

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 14 January 2019 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 January 2019

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 14 January 2019

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 14 January 2019

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Holding, George [R-NC-2] · R · Sponsor
• Rep. Rouzer, David [R-NC-7] · R · Sponsor
• Rep. Meadows, Mark [R-NC-11] · R · Sponsor
• Rep. Walker, Mark [R-NC-6] · R · Sponsor
• Rep. Hudson, Richard [R-NC-8] · R · Sponsor
• Sen. Budd, Ted [R-NC] · R · Sponsor
• Rep. Foxx, Virginia [R-NC-5] · R · Sponsor
• Rep. Rice, Tom [R-SC-7] · R · Sponsor
• Rep. Jones, Walter B., Jr. [R-NC-3] · R · Sponsor
• Rep. Price, David E. [D-NC-4] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← 2018 Natural Disasters Tax Relief Act
• related to ← Disaster Tax Relief Act of 2019
• related to ← Disaster Tax Relief Act of 2019
• related to ← Disaster Tax Relief Act of 2019
• related to ← TREAD Act
• related to ← Taxpayer Certainty and Disaster Tax Relief Act of 2019
• related to ← Hurricanes Florence and Michael and California Wildfire Tax Relief Act
• related to ← Hurricane Florence Tax Relief Act