SBE Council Statement of Support for the “Tax Relief for Fraud Victims Act,” H.R. 9500

By SBE Council at 30 June, 2026, 10:17 pm

The following statement of support for the “Tax Relief for Fraud Victims Act,” H.R. 9500, can be attributed to Small Business & Entrepreneurship Council (SBE Council) President & CEO Karen Kerrigan:

“The Tax Relief for Fraud Victims Act restores an important measure of fairness to the tax code by ensuring that victims of theft and fraud are not further disadvantaged by outdated timing rules that can prevent them from claiming legitimate tax relief. SBE Council strongly supports the legislation.

“America’s entrepreneurs and small business owners face an increasingly sophisticated landscape of financial crime, including cyber fraud, identity theft, business email compromise, employee embezzlement, and creative scams. These crimes can inflict significant financial losses that threaten a firm’s ability to invest, meet payroll, retain employees, and continue operating. Unfortunately, many fraud schemes are intentionally concealed for years, meaning victims often discover their losses only after the normal period for amending prior tax returns has expired.

“H.R. 9500 addresses this inequity by restoring pre-2018 theft loss treatment and allowing taxpayers to claim a theft loss deduction tied to the year the related income was recognized through an amended return, even when the fraud is discovered after the standard refund limitations period. This commonsense reform recognizes that victims should not lose access to tax relief simply because sophisticated criminals successfully concealed their misconduct.

“SBE Council commends Representative Max Miller for introducing legislation that recognizes the realities of modern financial fraud and helps ensure that victims are treated fairly under the tax code. While no tax provision can fully compensate for the losses suffered by fraud victims, H.R. 9500 provides an important pathway toward recovery and supports the resilience of America’s entrepreneurs and small businesses.”

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For more than 30 years, SBE Council has advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth.

Visit www.sbecouncil.org for additional information. X: @SBECouncil