Home Featured News H.R. 5863: the Disaster Tax Relief Act

H.R. 5863: the Disaster Tax Relief Act

by The 100 Companies

If you sustained damages from Hurricane Ian and were not able to claim a casualty loss on your federal tax return because it didn’t exceed 10% of your adjusted gross income, there is still hope.

With a vote of 382-7, the U.S. House of Representatives passed H.R. 5863 on May 21, which enables owners to file an amended return to claim those losses. That bill is now in the Senate Committee on Finance, but it is unsure when it will come to the floor for a vote.

Contact Senator Scott and Senator Rubio‘s offices to express your support.

– David Feight, Gulf Shore Association of Condominiums

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