HURRICANE MICHAEL TAX RELIEF

Federal lawmakers have introduced a bill to offer tax breaks to people impacted by Hurricane Michael. The House bill would provide penalty-free early access to retirement savings and make it easier to qualify for personal casualty loss deductions. The bill would also provide tax relief to help businesses retain employees and let taxpayers refer to earned income from the previous year for determining earned income tax credits and child tax credits. It is Co-sponsored by Congressmen Neal Dunn, of Panama City and Tom Rice, from South Carolina.