Wyden’s Wildfire Tax Relief Bill Passes Just Before Congress Recesses
A bill backed by Oregon Sen. Ron Wyden to relieve natural disaster survivors from paying federal income taxes on their recovery settlements passed against unexpected odds.
A bill backed by Oregon Sen. Ron Wyden to relieve natural disaster survivors from paying federal income taxes on their recovery settlements passed against unexpected odds.
BELLINGS Intelligence Score: 38
Why it matters
The passage of Wyden’s wildfire tax relief bill represents a notable regulatory development with potential impact on disaster recovery financing and tax treatment, affecting a specific but significant segment of credit-market professionals and borrowers in disaster-affected areas.
Sources
CPA Practice Advisor
Wyden’s Wildfire Tax Relief Bill Passes Just Before Congress Recesses
A bill backed by Oregon Sen. Ron Wyden to relieve natural disaster survivors from paying federal income taxes on their recovery settlements passed against unexpected odds.