H.R. 9500, 119th Cong., 2d Sess. (2026), passed the House of Representatives on September 15, 2026
On September 15, 2026, the United States House of Representatives passed H.R. 9500, titled the “Tax Relief for Fraud Victims Act”. Introduced by Representative Max Miller (OH) alongside Representative Thomas Suozzi (NY), the proposed legislation enacts substantive modifications to Title 26 of the United States Code (Internal Revenue Code of 1986). The bill addresses long-standing practitioner concerns regarding the restrictive personal casualty loss rules imposed under the Tax Cuts and Jobs Act (TCJA) of 2017, while instituting unprecedented relief, elections, and extended refund statutes for taxpayers who suffer theft losses stemming from fraud, deceit, or misrepresentation.
Legislative Status Note: Tax practitioners must advise clients that while H.R. 9500 has passed the House of…
This remains the most prevalent form of financial crime globally. It targets the direct access points to your money: your cards and your bank accounts.
- Skimming: Criminals use small devices called “skimmers” placed over ATM or point-of-sale card slots to capture the data from your card’s magnetic strip.
- Card-Not-Present (CNP) Fraud: This occurs during online shopping where a physical card isn’t required. Thieves use stolen card numbers, expiry dates, and CVV codes to make unauthorized purchases.
- Account Takeover (ATO): A hacker gains access to your online banking credentials (often through malware or phishing) and changes the contact details or passwords, locking you out while they drain your funds.