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US SB584
Bill
Status
2/13/2025
Primary Sponsor
Kirsten Gillibrand
Click for details
AI Summary
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Excludes from federal gross income all judgments, awards, and settlements received by victims of sexual assault or sexual harassment, including back pay, front pay, punitive damages, and attorney's fee reimbursements
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Covers claims under federal, tribal, state, or local law, whether received as lump sum or periodic payments
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Exempts these payments from Social Security taxes, railroad retirement taxes, unemployment taxes, and federal wage withholding
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Applies to taxable years beginning after the date of enactment
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Introduced February 13, 2025 by Senators Gillibrand (D-NY) and Blackburn (R-TN), referred to Committee on Finance
Legislative Description
Tax Fairness for Survivors Act
Taxation
Last Action
Read twice and referred to the Committee on Finance.
2/13/2025