President signs Disaster Tax Relief Act

President Trump has signed the “Disaster Tax Relief and Airport and Airway Extension Act of 2017” (Public Law 115-63). Congress approved the bill the day before. The Disaster Tax Relief Act is temporary and targeted to victims of Hurricanes Harvey, Irma and Maria. Legislation for permanent disaster relief appears to have stalled in the House. In addition, the IRS has provided relief in the form of filing extensions and other accommodations.

In addition to supporting these tax relief measures, the Trump Administration reports that it will submit further requests to the Congress for supplemental funding in the near future, and looks forward to working with Congress to enact these recovery measures into law.”

The new law will, among other relief measures: