United StatesTaxpayers could deduct fraud-related theft losses without listing deductions individually
Taxpayers could deduct covered fraud-related theft losses without listing deductions individually, but only for losses sustained after the day the bill becomes law.
What it does
Taxpayers could deduct covered fraud-related theft losses without a declared disaster or listing deductions individually. These rules would cover only losses sustained after the day the bill becomes law.
Argument forPeople with covered theft losses could receive tax relief even when they do not list deductions individually on their tax returns.
Argument againstPeople with earlier fraud-related theft losses could miss this deduction option because these rules would cover only losses after the bill becomes law.
More detail
Taxpayers could deduct covered theft losses without listing deductions individually. The rules would cover taxpayers with these theft losses even when no federal or state disaster has been declared. Eligibility would depend on the federal definition of theft involving fraud or deception. These rules would apply to losses sustained after the date the bill becomes law.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Oct 22Introduced in HouseLatest
- Oct 22Referred to the House Committee on Ways and Means.Introduced
Taxes & BudgetConsumer Protection