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Tax Breaks for Employer-Sponsored Aid to Katrina Victims |
July 23, 2006
Previously published on September 2005
In the aftermath of Hurricane Katrina, many employers are finding that their employees and families are under tremendous financial hardship. Thanks to recent legislation there are special tax breaks to encourage co-workers and employers to provide needed financial assistance. The IRS has also announced temporary tax breaks to facilitate employees donating their unused vacation and paid leave to disaster victims. This is similar to relief that the IRS provided in the wake of the September 11 terrorist attacks.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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