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HR 9500 · 119th Congress — Tax Relief for Fraud Victims Act

Tax Relief for Fraud Victims Act This bill expands the federal tax deduction for personal casualty and theft losses by eliminating certain limits, including the requirement that such losses arise from certain disasters. The bill also…

Congress
119
Bill
HR 9500
Status
In Progress
Introduced
2026-06-29
Latest action date
2026-07-01

Summary

Tax Relief for Fraud Victims Act This bill expands the federal tax deduction for personal casualty and theft losses by eliminating certain limits, including the requirement that such losses arise from certain disasters. The bill also extends the tax refund deadline and modifies certain retirement plan rules related to certain fraud losses. The bill repeals the limit on the federal tax deduction for personal casualty losses (not attributable to a trade, business, or transaction entered into for profit) that allows such losses only if arising from a federal or state declared disaster or to the extent that such losses offset personal casualty gains. The bill allows taxpayers to elect to claim a tax deduction for losses arising from a theft involving fraud, deceit, or misrepresentation in the tax year such losses occur (rather than in the tax year discovered). Right now, the latest action is: Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 39 - 0. The listed sponsor is Rep. Miller, Max L. [R-OH-7] [R].

This summary may describe an earlier version. Check the official record for current wording.

Latest action

Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 39 - 0.

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