Tax Relief and Expedited Assistance for Disasters Act of 2019 or the TREAD Act This bill provides tax relief for qualified disaster areas (i.e., an area, excluding a California wildfire disaster area, for which a major disaster was declared on or after January 1, 2018). Specifically, the bill provides for distributions and loans from retirement plans for disaster assistance, a tax credit for wages paid by employers in a qualified disaster area, a temporary suspension of limitations on the deductibility of charitable contributions, and an automatic extension of filing deadlines for taxpayers affected by disasters.
Charitable contributionsDisaster relief and insuranceGovernment employee pay, benefits, personnel managementGuamIncome tax creditsIncome tax deductionsIncome tax deferralIncome tax exclusionNatural disastersNorthern Mariana IslandsTax administration and collection, taxpayersTax treatment of familiesU.S. territories and protectoratesWages and earnings
TREAD Act
USA116th CongressHR-3287| House
| Updated: 6/13/2019
Tax Relief and Expedited Assistance for Disasters Act of 2019 or the TREAD Act This bill provides tax relief for qualified disaster areas (i.e., an area, excluding a California wildfire disaster area, for which a major disaster was declared on or after January 1, 2018). Specifically, the bill provides for distributions and loans from retirement plans for disaster assistance, a tax credit for wages paid by employers in a qualified disaster area, a temporary suspension of limitations on the deductibility of charitable contributions, and an automatic extension of filing deadlines for taxpayers affected by disasters.