Warning: Creating default object from empty value in /nfs/c06/h01/mnt/157023/domains/taxationbrief.com/html/wp-content/themes/blox/framework/zilla-theme-functions.php on line 141
IRS Announces Qualified Disaster Treatment of Payments to Victims of Hurricane Sandy | Taxation Brief

IRS Announces Qualified Disaster Treatment of Payments to Victims of Hurricane Sandy

IRS:

The Internal Revenue Service today alerted employers and other taxpayers that because Hurricane Sandy is designated as a qualified disaster for federal tax purposes, qualified disaster relief payments made to individuals by their employer or any person can be excluded from those individuals’ taxable income.