The WILTR Act would change federal tax rules for certain wildfire prevention work on a taxpayer’s property. It would exclude qualifying grants, awards, or services from gross income. It would also allow a deduction for qualifying expenses certified by a state, local, Tribal, or federal fire management agency. The deduction would not apply to expenses already covered by the income exclusion. The changes would apply to amounts received or paid after the Act’s enactment.
If you are a taxpayer who receives support for qualifying fuel reduction or firefighting-related property improvements, that support may be excluded from gross income. You may also be able to deduct qualifying expenses if a fire management agency certifies the work. You could not claim both benefits for the same expense.
The bill does not specify estimated costs or tax savings. It would provide an income exclusion and a tax deduction for qualifying activities and improvements.
No publicly available information.
No publicly available information.