This bill aims to amend the Internal Revenue Code of 1986 by creating a new exclusion from gross income for certain payments. Specifically, it provides that an individual's gross income will not include any amount received as a qualified wildfire relief payment . A qualified wildfire relief payment is defined as compensation for losses, expenses, or damages, such as additional living expenses, personal injury, or emotional distress, incurred due to a federally declared wildfire disaster that occurred after December 31, 2014. These payments are excludable only to the extent that the losses are not already compensated by insurance or other means. To prevent taxpayers from receiving undue advantages, the bill also includes provisions to deny double benefits , meaning no deduction, credit, or increase in property basis will be allowed for expenditures covered by these excluded payments, with the changes applying to amounts received after December 31, 2025.