<p><strong>Filing Relief for Natural Disasters Act</strong></p><p>This bill authorizes the Internal Revenue Service (IRS) to postpone federal tax deadlines for taxpayers affected by a qualified state declared disaster, upon written request by the state governor. The bill also increases the automatic extension of federal tax deadlines for certain taxpayers.</p><p>Under current law, the IRS may postpone federal tax deadlines for taxpayers affected by a federally declared disaster, including (but not limited to) deadlines for (1) filing federal tax returns, (2) paying federal taxes, (3) making retirement plan contributions, and (4) tax assessments and collections.</p><p>The bill authorizes the IRS to postpone such federal tax deadlines for taxpayers affected by a qualified state declared disaster upon written request by the state’s governor (or the District of&nbsp;Columbia mayor). Under the bill, a state includes the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands.</p><p>The bill defines <em>qualified state declared disaster</em> as any natural catastrophe,&nbsp;fire, flood, or explosion that causes damage of sufficient severity and magnitude to warrant a request to postpone such federal tax deadlines.</p><p>Further, under current law, an automatic 60-day extension of such federal tax deadlines applies to certain relief workers, individuals killed or injured as a result of a federally declared disaster, and taxpayers whose principal residence, business, or tax records are located in a federally declared disaster area.</p><p>The bill increases to 120 days the automatic extension of federal tax deadlines for these&nbsp;taxpayers.</p>

<p>This joint resolution nullifies the rule titled <em>Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales</em> and issued by the Internal Revenue Service (IRS) on December 30, 2024. The rule generally requires persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the IRS. <em></em><em></em><em></em><em></em></p>

<p><strong>Disaster Related Extension of Deadlines Act</strong></p><p>This bill requires the Internal Revenue Service (IRS) to treat the postponement of the federal tax return deadline due to a federally declared disaster or certain other events as an extension of such deadline for purposes of calculating the limit on a tax refund. The bill also provides that the IRS’s deadline for sending certain notices includes such postponement.</p><p>Under current law, a tax refund claim must be filed within three years of the date that the federal tax return is filed. (Some exceptions apply.) The tax refund amount generally is limited to federal taxes paid within the three years preceding the tax refund claim plus any extension of the federal tax return deadline (lookback period). The postponement of the federal tax return deadline is not an extension for purposes of the&nbsp;lookback period. (Thus, certain tax payments made before the federal tax return is filed may be excluded from the lookback period.)</p><p>Under the bill, a federal tax return deadline postponed due to a federally declared disaster or certain other events must be treated as an extension of such deadline for purposes of the lookback period.</p><p>Under current law, the IRS is required to mail a notice and demand for tax payment within 60 days of an assessment but not before the tax payment due date.&nbsp;</p><p>The bill provides that the tax payment due date includes the postponement of the tax payment deadline due to a federally declared disaster or certain other events.&nbsp;</p>