PG&E Fire Money will be non-taxable when LaMalfa’s bill is signed by the President

Taxes are going down for a lot of Northern California residents! The senate has passed Representative Doug LaMalfa’s bill which will negate federal taxability of PG&E settlement fire money from the Camp Fire and some other presidentially-declared disasters. If you reported income during the last few years from PG&E settlement monies, you may be entitled to refunds via amended tax returns. California had previously made this income non-taxable, but federal tax rates are higher and this is an excellent law to reduce a lot of taxpayers’ burdens in these days of inflation-driven high prices.
Please consult a tax professional to discuss your particular situation, this post is for entertainment purposes only and is not to be considered tax or legal advice.
Grab your 1040X forms!!!!
(The above post was NOT written with the help of AI) : )