HR. 481In Committee
Protecting Homeowners from Disaster Act of 2025
Repeals the tax law limit that restricts itemized casualty loss deductions to federally declared disasters, for losses after 2024
Plain-English overview
What this bill does
Repeals the tax law limit that restricts itemized casualty loss deductions to federally declared disasters, for losses after 2024
Key points
- Repeal casualty loss deduction limit
Current status
Where it stands
Status
In Committee
Latest action
2025-01-16 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedIncome tax deductionsLife, casualty, property insuranceTax administration and collection, taxpayersTaxation