Tax Provisions to Assist with Disaster Recovery

Author / Creator

Library of Congress. Congressional Research Service. American Law Division

Available as

Online

Summary

Discusses several permanent tax relief provisions of the Internal Revenue Code (IRC) that apply to taxpayers affected by natural or man-made disasters, as well as past, targeted legislative respons...

Discusses several permanent tax relief provisions of the Internal Revenue Code (IRC) that apply to taxpayers affected by natural or man-made disasters, as well as past, targeted legislative responses to particular disasters. Covers casualty loss deductions, exemptions from taxation for disaster relief payments to individuals, exemptions from taxation for certain insurance payments, and deferral of gain from the involuntary conversion of homes destroyed or damaged by a disaster.

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