If they carefully follow the guidelines, employers may give cash payments to employees for disaster relief, tax-free. Under Sec. 139 of the Internal Revenue Code, qualified disaster relief payments to employees are tax free to the employee and deductible by the employer. This includes income as well as social security and Medicare taxes. Read more
Tag Archive for tax relief
Texas storm victims, including those in the Houston area, will have until Sept. 1, 2016 to file their returns and pay any taxes due, the Internal Revenue Service announced today. All workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization also qualify for relief. Read more
What do a weekend trip to Mexico, a sneaky spouse, and a tax protest letter have in common?
They are all components of a taxpayer’s losing plea for tax relief in front of the California State Board of Equalization.*
Charles and Vickie Sine filed a joint California resident tax return (Form 540) for tax year 2005. It subsequently came to the attention of the Franchise Tax Board that they had Read more