News & Analysis as of

Qualified Disaster Relief Payments

New Hurricane Legislation Grants Additional Distribution, Withdrawal and Loan Relief for Certain Retirement Plan Participants

by McDermott Will & Emery on

The new Disaster Tax Relief and Airport and Airway Extension Act of 2017 provides additional relief and flexibility for retirement plan participants impacted by recent hurricanes, including relaxed rules for plan...more

Qualified Disaster Relief Payments: Federal Loans, Charitable Assistance, Etc.

by Moskowitz LLP on

What if I received a Small Business Association (SBA) Disaster Loan for my business or home? How will it affect my taxes? SBA loans are not treated as income and will not affect your taxes.....more

Help Us (and the Code) Help You! Helping Employees/Co-Workers in a Crisis

by Bond Schoeneck & King PLLC on

In response to disasters such as hurricanes and earthquakes, the general community comes together to assist those in need — donating our blood, time, money, and belongings. We respond similarly when one of our co-workers...more

When Disaster Strikes: IRS Guidance Gives Employers Additional Options for Assisting Employees Hit by Hurricanes Harvey and Irma

by Foley & Lardner LLP on

When Hurricanes Harvey and Irma made landfall in Texas and Florida, they gave rise not only to widespread property damage, but to a humanitarian disaster as well. The massive storms have left scores dead and thousands...more

Donating To Employees Affected By Hurricane Harvey

by Strasburger & Price, LLP on

According to a recent estimate from the U.S. Chamber of Commerce, companies have pledged more than $157 million to relief efforts addressing the devastation of Hurricane Harvey. But when your own employees are the people in...more

Hurricane Harvey and Tropical Storm Harvey: What Kind of Relief May Employers Offer to Affected Employees? What About Hurricane...

by Epstein Becker & Green on

Employers with employees and operations impacted by Hurricane and Tropical Storm Harvey are asking what type of compensation, employee benefits, and tax relief may be available to them and their affected employees. There are...more

Hurricane Harvey Relief for Employees

by Bracewell LLP on

Following Hurricane Harvey and its resulting destruction, many employees are in need of financial assistance and/or early access to retirement funds. We will highlight how employers can make direct financial assistance...more

DOL and IRS Issue Guidance for Employee Benefit Plans Impacted by Hurricane Harvey

In the wake of massive floods caused by Hurricane Harvey, the Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC) have issued initial employee benefit plan guidance. The...more

Employers Can Provide Tax-Free Disaster Assistance to Employees - September 2017

by McDermott Will & Emery on

Section 139 of the Internal Revenue Code allows an employer to provide tax-free qualified disaster relief payments to Texas and Louisiana employees in designated areas affected by Hurricane Harvey....more

Hurricane Harvey Client Alert: How Employers and Employees Can Help Those in Need

by Morgan Lewis on

A variety of tax-favored vehicles exist for employers and their employees to donate cash or even accrued leave to assist those impacted by Hurricane Harvey’s devastation....more

Lessons Learned from Katrina and Hurricane Harvey Relief Guidance to Date for those Affected by Hurricane Harvey

by Winstead PC on

Following Hurricane Katrina (“HK”), excellent minds in the government worked to provide helpful guidance on relief that employers could elect to utilize to assist employees impacted by that hurricane or other disasters either...more

110th Tennessee General Assembly Session Ends for 2017

The Tennessee Legislature completed its first session of the 110th General Assembly this Wednesday. The flag flying over the Capitol, signifying the body is in session, was taken down. The General Assembly will reconvene on...more

Medicaid’s Role in Public Emergencies and Health Crises

Editor’s Note: When it comes to natural disasters and public health crises, it is not surprising—in fact, it is expected—that federal agencies such as the Federal Emergency Management Association (FEMA) and the Centers for...more

FLSA Insurance-Adjuster Overtime Exception Buried In Appropriations Bill

by Fisher Phillips on

Section 111 of the recently-enacted "Department of Labor Appropriations Act, 2015" directs that the federal Fair Labor Standards Act "shall be applied as if" there is an overtime exclusion for certain workers who are employed...more

Must Claims Severed From A CAFA Class Action Be Remanded To State Court? The Fifth Circuit Says No.

by Carlton Fields on

Following Hurricane Katrina, the State of Louisiana filed a class action to recover under homeowners’ insurance policies that the state had received by assignment through a disaster relief program. The insurers successfully...more

A Tax-Favored Method Employers Can Use to Assist Employees Affected by Sandy

For those caught in the path of Hurricane Sandy, the past few days represent a life-changing event. Many employers are eager to find a way to assist employees as they address the damage and destruction. Tax provisions passed...more

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