{
  "id": "R42839",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "R42839",
  "active": true,
  "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 419022,
      "date": "2013-02-06",
      "retrieved": "2016-04-06T21:23:25.786282",
      "title": "Tax Provisions to Assist with Disaster Recovery",
      "summary": "Relief after a natural or man-made disaster may come from what many might consider an unlikely source: the Internal Revenue Code (IRC). The IRC includes several tax relief provisions that apply to affected taxpayers. Some of these provisions are permanent. The following are among the permanent provisions discussed in this report: \ncasualty loss deductions, IRC Section 165;\nexemption from taxation for disaster relief payments to individuals, IRC Section 139;\nexemption from taxation for certain insurance payments, IRC Section 123; and \ndeferral of gain from the involuntary conversion of homes destroyed or damaged by a disaster, IRC Section 1033.\nIn recent years, Congress has enacted tax legislation generally intended to assist victims of specific disasters; as a result, these laws were temporary in nature. One act, however, provided more general, but still temporary, relief for any federally declared disaster occurring prior to January 1, 2010. The acts providing temporary relief include the following:\nThe Job Creation and Worker Assistance Act of 2002, P.L. 107-147, which provided tax benefits for areas of New York City damaged by the terrorist attacks of September 11, 2001;\nThe Katrina Emergency Tax Relief Act of 2005 (KETRA), P.L. 109-73, which provided tax relief to assist the victims of Hurricane Katrina in 2005;\nThe Gulf Opportunity Zone (GO Zone) Act of 2005, P.L. 109-135, which provided tax relief to those affected by Hurricanes Katrina, Rita, and Wilma in 2005; \nThe Food, Conservation, and Energy Act of 2008 (2008 Farm Bill), P.L. 110-234, which provided tax relief intended to assist those affected by severe storms and tornados in Kansas in 2007; and\nThe Heartland Disaster Tax Relief Act of 2008, P.L. 110-343, which provided tax relief to assist recovery from both the severe weather that affected the Midwest during the summer of 2008 and Hurricane Ike. This act also included general disaster tax relief provisions that applied to federally declared disasters occurring before January 1, 2010.\nThis report provides a basic overview of existing, permanent provisions that benefit victims of disasters, as well as past, targeted legislative responses to particular disasters. The relief is discussed without examining either the qualifications for or the limitation on claiming the provisions\u2019 benefits. In light of Hurricane Sandy, this report is designed to help Congress identify previous legislative responses to recent disasters.",
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      "typeId": "REPORTS",
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      "topics": [
        {
          "source": "IBCList",
          "id": 2432,
          "name": "Disaster Recovery, Mitigation, and Funding"
        }
      ]
    },
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc227830/",
      "id": "R42839_2012Nov29",
      "date": "2012-11-29",
      "retrieved": "2013-11-05T18:07:05",
      "title": "Tax Provisions to Assist with Disaster Recovery",
      "summary": "Report that provides a basic overview of existing, permanent provisions that benefit victims of disasters, as well as past, targeted legislative responses to particular disasters. The relief is discussed without examining either the qualifications for or the limitation on claiming the provisions' benefits.",
      "type": "CRS Report",
      "typeId": "REPORT",
      "active": false,
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          "source": "pymupdf"
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      ],
      "topics": [
        {
          "source": "LIV",
          "id": "Disaster relief",
          "name": "Disaster relief"
        },
        {
          "source": "LIV",
          "id": "Emergency management",
          "name": "Emergency management"
        },
        {
          "source": "LIV",
          "id": "Taxation",
          "name": "Taxation"
        }
      ]
    }
  ],
  "topics": [
    "Intelligence and National Security"
  ]
}