What does Preamble of Tax Fairness for Survivors Act do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would exclude judgments, awards, and settlements related to sexual assault or sexual harassment claims from gross income. The bill was introduced in the House of Representatives on February 13, 2025.

What does SHORT TITLE. of Tax Fairness for Survivors Act do?

This bill is formally titled the Tax Fairness for Survivors Act.

What does EXEMPTING FROM FEDERAL INCOME TAXATION PAYMENTS ALLOCABLE TO of Tax Fairness for Survivors Act do?

This section amends the Internal Revenue Code of 1986 to exempt payments received as judgments, awards, or settlements related to sexual assault or sexual harassment claims from federal income taxation. The exemption applies to amounts received by individuals, including backpay, frontpay, punitive damages, reimbursement of attorney's fees, and payments made in connection with a release of claims. The definition of sexual assault includes acts defined in section 2246 of title 18, United States Code, or similar Tribal, State, or local laws, including cases where the victim lacks capacity to consent. The definition of sexual harassment includes conduct alleged to constitute sexual harassment under applicable Federal, Tribal, State, or local law. The Secretary is authorized to prescribe regulations and guidance to implement these provisions. This section also amends provisions related to Social Security taxes, Railroad Retirement Tax, Unemployment Taxes, and Wage Withholding to reflect the exclusion of these payments from gross income. The amendments apply to taxable years beginning after the date of enactment of this Act.

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Tax Fairness for Survivors Act

Last updated: 2/13/2025 · Introduced: 2/13/2025

Author: Lois Frankel (D-FL)

TL;DR (AI)

This bill excludes payments received as judgments, awards, or settlements related to sexual assault or sexual harassment claims from federal income taxation.
The exemption applies to various types of payments, including backpay, frontpay, punitive damages, and attorney's fees, received by individuals.
The bill expands the definition of sexual assault to include acts defined under federal, tribal, state, or local laws, and defines sexual harassment similarly.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 1 more.

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