Florida Lawmakers Introduce Bill To Restore Tax Relief For Victims Of Crimes And Disasters

Florida Lawmakers Introduce Bill To Restore Tax Relief For Victims Of Crimes And Disasters

U.S. Representative Greg Steube (R-Fla.) and Senator Ashley Moody (R-Fla.) have introduced the “Tax Relief for Victims of Crimes, Scams, and Disasters Act,” a bill aimed at reinstating the casualty and theft loss tax deduction for Americans who have suffered significant losses due to fraud, cybercrime, structural home failures, or natural disasters. The legislation seeks […] Florida Lawmakers Introduce Bill To Restore Tax Relief For Victims Of C…

Steube, Moody Introduce Bill Offering Tax Relief to Crime & Disaster Victims

Representative Greg Steube (R-FL) and Senator Ashley Moody (R-FL) are introducing legislation to offer tax relief to victims of cybercrime, robbery, or natural disasters. Under current law, tax deductions related to disasters or theft only apply in a federally designated disaster area. This tightens previous laws related to income loss that existed before federal income taxes. As a result, Rep. Steube and Sen. Moody's Tax Relief for Victims of C…