Share with your friends

Senate Finance disaster tax relief taskforce report

Senate Finance disaster tax relief taskforce report

The U.S. Senate Finance Committee has released the final report from the bipartisan taskforces addressing temporary tax policy. This last report relates to disaster tax relief.


Related content

Read the taskforce report [PDF 16.15 MB] (98 pages) on disaster tax relief

The disaster relief taskforce examined a set of temporary, disaster tax relief policies, including Code provisions relating to the following “core set” of disaster relief provisions:

  • Special disaster-related rules for use of retirement funds (sections 72(t), 165, 401-403, 408, 457, and 3405)
  • Employee retention credit for employers affected by qualified disasters (section 38)
  • Temporary increase in limitation on qualified charitable contributions (section 170)
  • Special rules for disaster-related personal casualty losses (section 165)
  • Special rule for determining earned income for the child tax credit and the earned income tax credit (EITC) (sections 24(d) and 32)

In addition, the taskforce reviewed disaster tax relief provisions enacted between 2002 and 2008.

The report provides an overview of the taskforce’s work, summarizes comments received from Senators and stakeholders, and lists Senate bills brought to the taskforce’s attention, but does not appear to include particular recommendations from the taskforce.


Senate Finance Committee Chairman Grassley and ranking member Wyden in May 2019 announced the formation of several bipartisan taskforces to examine temporary tax provisions that expired, or will expire, between December 31, 2017, and December 31, 2019—a total of 42 provisions.

The taskforces were charged to examine tax policies in five areas:

  • Energy (report issued August 13, 2019)
  • Business cost recovery (report issued August 13, 2019)
  • Individual, excise and other temporary policies (report issued August 13, 2019)
  • Workforce and community development (report issued August 27, 2019)
  • Health (report issued September 16, 2019)

Read TaxNewsFlash and TaxNewsFlash and TaxNewsFlash describing the reports previously released by the other taskforces.

A separate taskforce was assigned to examine whether there is a core package of tax relief provisions that should be available when there are natural disasters.

In February 2019, Senators Grassley and Wyden introduced bipartisan legislation to restore the tax provisions that expired at the end of 2017 and 2018 through the balance of this year and to provide disaster tax relief benefits to individuals and businesses affected by major disasters occurring in 2018. Read TaxNewsFlash

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal