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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Hurricane Florence Tax Relief Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To provide tax relief for the victims of Hurricane Florence, and for other purposes.


Actions Overview (1)

Date
09/20/2018Introduced in House

All Actions (2)

Date
09/20/2018Referred to the House Committee on Ways and Means.
Action By: House of Representatives
09/20/2018Introduced in House
Action By: House of Representatives

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means09/20/2018 Referred to

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Latest Summary (1)

There is one summary for H.R.6854. View summaries

Shown Here:
Introduced in House (09/20/2018)

Hurricane Florence Tax Relief Act

This bill amends the Internal Revenue Code to allow various tax credits, deductions, and modifications to existing rules for individuals and businesses affected by Hurricane Florence.

With respect to individuals and businesses in the affected areas, the bill:

  • waives the 10% additional tax on early distributions from retirement plans for up to $100,000 in distributions made on or after September 13, 2018, and before January 1, 2020;
  • permits individuals to recontribute funds to retirement plans if the funds were distributed for a home purchase in a Hurricane Florence disaster area that was cancelled on account of the hurricane;
  • increases the limit and extends the repayment deadline for loans from retirement plans;
  • allows an employee retention tax credit for a portion of the wages paid to an employee whose principal place of employment on specified dates was in a Hurricane Florence disaster zone;
  • temporarily suspends the limitation on charitable contributions for relief efforts in the Hurricane Florence disaster area;
  • modifies the rules for the deduction for personal casualty losses; and
  • allows taxpayers to use earned income from the immediately preceding year for the purpose of determining earned income for the earned income tax credit and the child tax credit.