Bills of Congress by U.S. Congress

H.R.517 - Filing Relief for Natural Disasters Act (119th Congress)

Summary

H.R. 517, the "Filing Relief for Natural Disasters Act," amends the Internal Revenue Code of 1986 to modify rules for postponing certain tax deadlines due to disasters. It allows the Secretary of the Treasury, upon request from a state governor (or D.C. Mayor) and consultation with FEMA, to apply federal tax deadline extensions to state-declared disasters. The bill also extends mandatory extensions from 60 to 120 days.

Expected Effects

This bill will provide more flexibility and time for individuals and businesses to meet tax obligations after experiencing a natural disaster. It empowers state governors to request federal assistance for tax relief in their jurisdictions. The extended deadlines aim to ease the burden on those affected by disasters.

Potential Benefits

  • Provides additional time for taxpayers to meet deadlines after a disaster.
  • Allows states to request federal tax relief for state-declared disasters.
  • Offers flexibility in disaster recovery.
  • Potentially reduces penalties for late filings due to disasters.
  • Simplifies the process for obtaining tax relief after a disaster.

Potential Disadvantages

  • May create administrative burdens for the IRS.
  • Could potentially delay tax revenue collection.
  • Requires coordination between federal and state agencies.
  • The definition of 'sufficient severity and magnitude' could be subject to interpretation, leading to inconsistencies.
  • Potential for increased fraudulent claims.

Constitutional Alignment

This bill appears to align with the Constitution, particularly Article I, Section 8, which grants Congress the power to lay and collect taxes, duties, imposts, and excises. The bill modifies existing tax laws and procedures, which falls under Congress's enumerated powers. There are no apparent infringements on individual rights or liberties as defined by the Bill of Rights.

Impact Assessment: Things You Care About

This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).