1. Short title This Act may be cited as the Tax Fairness for Disaster Victims Act . 2. Lookback rule in case of certain federally declared disasters for amounts related to earned income for purposes of determining certain tax credits (a) In general Section 32 of the Internal Revenue Code of 1986 is amended by inserting after subsection (f) the following new subsection: (g) Lookback rule for determining amounts related to earned income in case of certain federally declared disasters (1) In general In the case of a qualified individual who elects the application of this subsection (at such time and in such manner as the Secretary may provide)— (A) if the earned income of the taxpayer for the taxable year which includes the applicable date is less than the earned income of the taxpayer for the preceding taxable year, the credits allowed under this section and section 24(d) shall be determined by substituting— (i) such earned income for the preceding taxable year, for (ii) such earned income for the taxable year which includes the applicable date, and (B) if the social security taxes of the taxpayer for the taxable year which includes the applicable date is less than the social security taxes of the taxpayer for the preceding taxable year, the credit allowed under section 24(d) shall be determined by substituting— (i) such social security taxes for the preceding taxable year, for (ii) such social security taxes for the taxable year which includes the applicable date. (2) Definitions For purposes of this subsection— (A) Qualified individual The term qualified individual means any individual whose principal place of abode on the applicable date was located in a disaster area with respect to a federally declared disaster. (B) Applicable date The term applicable date means, with respect to any federally declared disaster, the first day of the period specified by the Federal Emergency Management Agency as the period during which such disaster occurred. (C) Federally declared disaster