What This Bill Does · Plain English
Summary · Congress.gov
Natural Disaster Property Protection Act of 2025 This bill increases to $5,000 (from $600) the dollar threshold at which a person engaged in a trade or business is required to file an information return (for federal tax purposes) reporting certain payments related to a natural disaster or extreme weather. Under current law, a person engaged in a trade or business (including a corporation, company, partnership, association, individual, estate, and trust) is required to file an information return for certain payments made during the tax year to another person (but generally not to a corporation) if such payments total (in the aggregate) $600 or more (information reporting threshold). Such payments are reported on the IRS Form 1099 series. Specifically, payments made to nonemployees in exchange for services are reported on IRS Form 1099-NEC (nonemployee compensation). (Some exceptions apply.) Under the bill, the information reporting threshold increases to $5,000 for (1) expenses incurred to mitigate the risk of damage to real property that may result from a natural disaster or extreme weather, and (2) expenses incurred to repair damage to real property caused by a natural disaster or extreme weather.
Action Timeline
2025-02-06
Referred to the House Committee on Ways and Means.
2025-02-06
Introduced in House
2025-02-06
Introduced in House
Frequently Asked Questions
Did HR.1093 pass?
HR.1093 is still alive. Current stage: COMMITTEE. Pass likelihood: 42%.
What does HR.1093 do?
Natural Disaster Property Protection Act of 2025 This bill increases to $5,000 (from $600) the dollar threshold at which a person engaged in a trade or business is required to file an information return (for federal tax purposes) reporting certain payments related to a natural disaster or extreme weather. Under current law, a person engaged in a trade or business (including a corporation, company, partnership, association, individual, estate, and trust) is required to file an information return for certain payments made during the tax year to another person (but generally not to a corporation)…
Who sponsored HR.1093?
HR.1093 was sponsored by Brittany Pettersen (D-Colorado).
Full Bill Text
119 HR 1093 IH: Natural Disaster Property Protection Act of 2025 U.S. House of Representatives 2025-02-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 1093 IN THE HOUSE OF REPRESENTATIVES February 6, 2025 Ms. Pettersen (for herself and Mr. LaMalfa ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase the dollar threshold applicable to information reporting with respect to payments for qualified natural disaster expenses. 1. Short title This Act may be cited as the Natural Disaster Property Protection Act of 2025 . 2. Increase in threshold requiring information reporting to respect to qualified natural disaster expenses (a) Returns regarding payment in course of trade or business Section 6041 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (h) Increased threshold for qualified natural disaster expenses (1) In general In the case of a payment for a qualified natural disaster expense, subsection (a) shall be applied by substituting $5,000 for $600 . (2) Qualified natural disaster expense For purposes of this subsection, the term qualified natural disaster expense means— (A) an expense incurred to mitigate the risk posed to real property by natural disasters or extreme weather, or (B) an expense incurred to repair damage done to real property by natural disasters or extreme weather. . (b) Returns regarding payments of remuneration for services Section 6041A of such Code is amended by adding at the end the following new subsection: (g) Increased threshold for qualified natural disaster expenses In the case of a payment for a qualified natural disaster expense (as defined in section 6041(h)(2)), subsection (a)(2) shall be applied by substituting $5,000 for $600 . . (c) Effective date The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this section.
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