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Internal Revenue Code · 26 U.S.C.

§ 139M. Compensation for losses or damages resulting from certain wildfires

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).

Cite as 26 U.S.C. § 139M

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status
In force
Added
September 11, 2026 by Pub. L. 119–108
Length
3 subsections · 263 words · about 1 min to read
Defines
2 terms
Cross-references
cites 1; cited by 0 Code sections and 0 other regulations
(a) In general

Gross income shall not include any amount received by an individual as a qualified wildfire relief payment.

(b) Qualified wildfire relief payment For purposes of this section—
(1) In general

The term “qualified wildfire relief payment” means any amount received by or on behalf of an individual as compensation for losses, expenses, or damages (including compensation for additional living expenses, lost wages (other than compensation for lost wages paid by the employer which would have otherwise paid such wages), personal injury, death, or emotional distress) incurred as a result of a qualified wildfire disaster, but only to the extent the losses, expenses, or damages compensated by such payment are not compensated for by insurance or otherwise.

(2) Qualified wildfire disaster

The term “qualified wildfire disaster” means any Federally 11 So in original. Probably should not be capitalized. declared disaster (as defined in section 165(i)(5)(A)) declared after December 31, 2014, and before January 1, 2027, as a result of any forest or range fire.

(c) Denial of double benefit Notwithstanding any other provision of this title—
(1) no deduction or credit shall be allowed (to the individual for whose benefit a qualified wildfire relief payment is made) for, or by reason of, any expenditure to the extent of the amount excluded under this section with respect to such expenditure, and
(2) no increase in the basis or adjusted basis of any property shall result from any amount excluded under this section with respect to such property.

(Added Pub. L. 119–108, § 3(a), Sept. 11, 2026, 140 Stat. 1020.)

Terms defined here

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Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 1 other section

Amendment history

From the source credit and the official notes, newest first.

  1. Added by Pub. L. 119–108

Where it sits in the Code

  1. Subtitle A Income Taxes
  2. Chapter 1 NORMAL TAXES AND SURTAXES
  3. Subchapter B Computation of Taxable Income
  4. Part III ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME

Nearby sections

Official notes

Show the Law Revision Counsel's notes (amendments, effective dates)

Statutory Notes and Related Subsidiaries

Effective Date

Pub. L. 119–108, § 3(c), Sept. 11, 2026, 140 Stat. 1021, provided that: “The amendments made by this section [enacting this section] shall apply to payments received in taxable years beginning after December 31, 2025.”