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Committee considers tax deduction for victims of fraud; DOR outlines documentation and prior‑approval process

Senate Fiscal Committee · January 13, 2026

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Summary

Senate Bill 213 would allow taxpayers to deduct stolen taxable income (for example, forced early retirement withdrawals diverted by fraud) beginning with tax year 2024. Department of Revenue witnesses described a prior‑approval application requiring documentation and said any recouped funds would be added back in later years.

Chair introduced Senate Bill 213 as a conformity measure to allow a state income tax deduction for certain theft or fraud losses similar to federal treatment, limited to Indiana‑sourced income and to the 2024 tax year forward. Matt Robinson of the Department of Revenue described three safeguards: taxpayers…

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