Has anyone heard of the safe harbor act?

Question

This is in regards to hurricane rita and redoing your taxes for that year to claim damages eventhough you've received your insurance money and fixed the problem.

Answer 1

A safe harbor act is a provision of a statute or a regulation that reduces or eliminates a party's liability under the law, on the condition that the party performed its actions in good faith.

Legislators include safe-harbor provisions to protect legitimate or excusable violations.

An example of safe harbor is performance of a Phase I Environmental Site Assessment by a property purchasor: thus effecting due dilligence and a "safe harbor" outcome if future contamination is found caused by a prior owner.

Other variations of the safe harbor act are included in the link below.

Answer 2

Nope