Update: On December 10, 2018, House Ways & Means Committee Chairman Kevin Brady (R-TX) introduced a revised year-end tax relief package. This revised bill does not extend expired tax provisions, including the Indian Employment Credit (IEC) and the Federal Empowerment Zone (FEZ) credit. However, it does expand the areas eligible for disaster tax relief and employee retention credits.
Disaster Areas Covered by Year-End Tax Relief Package:
Camp and Woolsey wildfires
Kilauea volcanic eruption and earthquake
Hawaii severe storms, flooding, landslides and mudslides
Wisconsin severe storms, tornadoes, straight-line winds, flooding and landslides
Texas severe storms and flooding
North Carolina tornado and severe storms
Indiana severe storms and flooding
Alabama severe storms and tornadoes
Tropical Storm Gita.
Unfortunately, it appears that this package currently lacks the necessary bipartisan support to move forward. In addition, an impasse between Democratic Congressional leadership and the Administration over border wall funding is decreasing the likelihood of an end-of-year tax package. Equifax will continue to work to support such a package and will provide updates as Congress continues to debate these issues over the next couple of weeks.