Taxpayers could deduct covered fraud-related theft losses without listing deductions individually, but only for losses sustained after the day the bill becomes law.
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.
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.
No hearings or votes scheduled.