Senate Passes Bipartisan Bill for Natural Disaster Tax Relief

The U.S. Senate unanimously passed the Doug LaMalfa Federal Disaster Tax Relief Certainty Act (H.R. 5366) on August 7, sending it to President Trump for his signature. The bipartisan legislation provides federal income tax relief to survivors of natural disasters, specifically for federally declared wildfire disasters occurring between 2015 and 2026. The bill excludes qualified wildfire relief payments from gross income and allows individuals with qualified net disaster losses to exclude the net amount of personal casualty losses.