The Disaster Survivors Tax Relief and Recovery Act is designed to provide financial relief to individuals and businesses impacted by federal disasters, such as natural calamities. The legislation aims to alleviate the economic burden faced by those who have suffered losses by modifying tax rules and enhancing access to retirement funds. Key provisions of the act include allowing qualified individuals, whose homes are in designated disaster areas or who have been displaced, to use their prior year's earned income to calculate certain tax credits.