News & Analysis as of

Tax Relief Natural Disasters

Baker Donelson

SALT Select Developments - February 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Holland & Knight LLP

Beneficios fiscales a contribuyentes de las zonas afectadas por el huracán Otis en México

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Fue publicado en el Diario Oficial de la Federación (DOF) el 30 de octubre de 2023 el decreto por el que se otorgan diversos beneficios fiscales a los contribuyentes de las zonas afectadas en México por el huracán Otis....more

Sullivan & Worcester

Massachusetts And Maine Receive Hurricane Related Tax Relief

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The Internal Revenue Service delivered an unexpected surprise to taxpayers in Massachusetts and Maine this week by postponing to February 15, 2024 the deadline for various individual and business tax returns and tax payments...more

McDermott Will & Emery

Weekly IRS Roundup August 21 – September 1, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for August 21, 2023 – September 1, 2023....more

McDermott Will & Emery

Weekly IRS Roundup May 15 – May 19, 2023

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 15, 2023 – May 19, 2023. May 15, 2023: The IRS released Internal Revenue Bulletin 2023-20, which...more

Farella Braun + Martel LLP

Federal and California Taxpayer Relief: Reprieve From Wet Winter Weather

2023 started California off with weather that escapes recent memory. Rain, snow, and surf seemed unrelenting for the first two weeks of January. While this spell of winter storms has brought snow to our slopes and refilled...more

Adams and Reese LLP

Business Continuity in a Natural Disaster: First Steps on the Road to Recovery - October 2022

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As we begin to assess the damage from historic Hurricane Ian, Adams and Reese’s Disaster and Recovery Team is here to assist you. The Firm has extensive experience handling a wide range of disasters, including hurricanes Ida,...more

Shutts & Bowen LLP

IRS Announces Tax Relief for Victims of Hurricane Ian in Florida

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On September 29, 2022, the Internal Revenue Service (the “IRS”) announced certain tax relief for victims of Hurricane Ian in Florida. Following the recent disaster declaration issued by the Federal Emergency Management Agency...more

McDermott Will & Emery

Weekly IRS Roundup September 26 – September 30, 2022

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 26, 2022 – September 30, 2022....more

Freeman Law

COVID-19 Relief? Think Again!—Corporate Charitable Contributions for Disaster Relief

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Since the COVID-19 pandemic hit the United States in early 2020, relief efforts have taken many forms—personal services, legislative efforts, volunteer hours, and even charitable contributions. Yes, when both people and...more

Schwabe, Williamson & Wyatt PC

IRS Provides Tax Relief for Victims of Oregon Wildfires

On September 17, 2020, the IRS postponed various tax filing and payment deadlines for victims of the Oregon wildfires. Who Is Eligible? - Individuals in any area designated by the Federal Emergency Management Agency as...more

Foster Garvey PC

The IRS Provides Some Good News to Oregonians During a Time When Positive News Is Rare – News Releases OR-2020-23 and IR-2020-215

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When we thought times were bad enough with the COVID-19 pandemic and widespread social unrest in our country, the West Coast, including the Pacific Northwest, was struck with unprecedented wildfires and massive windstorms,...more

Brownstein Hyatt Farber Schreck

Year-End Spending Bill Includes Tax Extenders, Disaster Tax Relief

Just past midnight on Dec. 17, lawmakers released an amendment to one of two spending bills released on Dec. 16—H.R. 1865—the Further Consolidated Appropriations Act of 2020. Most notably, the amendment included an extension...more

McDermott Will & Emery

Weekly IRS Roundup June 3 – 7, 2019

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 3 – 7, 2019. June 4, 2019: The IRS issued a news release noting that it granted tax relief...more

Littler

Puerto Rico Treasury Again Extends Deadlines to Request Federal Employee Retention Benefit After Hurricanes Irma And María

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On May 17, 2019, the Puerto Rico Department of the Treasury (“PR Treasury”) issued Internal Revenue Informative Bulletin No. 19-07, granting an additional extension until June 30, 2019 for employers to request the Federal...more

Littler

Puerto Rico Treasury Extends Deadlines to Request Federal Employee Retention Benefit After Hurricanes Irma And María

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The Puerto Rico Department of the Treasury (“PR Treasury”) has issued Internal Revenue Informative Bulletin No. 19-01, extending until March 31, 2019 the deadline to request the Federal Employee Retention Benefit (“Benefit”)...more

Burr & Forman

Hurricane Florence: Federal and South Carolina Tax Return Filings and Payments

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Recognizing the devastating effects of Hurricane Florence, President Trump on September 10, 2018 declared that an emergency exists in the State of South Carolina and ordered federal assistance to be available beginning...more

Littler

Puerto Rico Department of the Treasury Issues Guidance on the Federal Employee Retention Benefit for Certain Employers Affected by...

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On September 29, 2018, the Disaster Tax Relief and Airport Extension Act of 2017, as amended (the “Act”), was adopted to, among other goals, provide tax relief to those affected by Hurricanes Irma and Maria. The Act includes...more

McDermott Will & Emery

Tax Reform Results in Only Minor Changes for Retirement Plans

The Tax Cuts and Jobs Act made significant changes to the tax code and will have a significant impact on businesses and individual taxpayers. However, although initial proposals included potentially significant changes to...more

McDermott Will & Emery

Tax Breaks in the New Hurricane Legislation for Employers and Taxpayers

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The Disaster Tax Relief and Airport and Airway Extension Act of 2017 provides a new favorable tax credit for eligible employers affected by recent hurricanes, as well as expanded charitable deductions and tax credits for...more

Robinson & Cole LLP

Puerto Rico’s Hacienda Issues Tax Relief for Victims of Hurricane

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On October 4, 2017, the Puerto Rico Department of Treasury (Hacienda) issued Administrative Determination No. 17-21 (Notice), which clarifies the tax treatment of certain payments made to assist those affected by Hurricane...more

Holland & Knight LLP

IRS Provides Relief for Bona Fide Residents of U.S. Virgin Islands, Puerto Rico

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• Because of the damage Hurricanes Irma and Maria inflicted on the U.S. Virgin Islands and Puerto Rico, the IRS has relaxed the stringent physical presence requirements that individuals typically must satisfy to qualify as...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Congress Provides More Hurricane Relief for Employees and Employers

On September 29, 2017, President Trump signed the Disaster Tax Relief and Airport and Airway Extension Act of 2017 (the “Act”). In addition to extending the funding for the Federal Aviation Administration, the Act contained...more

BCLP

EO Update: e-News for Charities & Nonprofits

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The IRS is providing several types of tax relief for those affected by hurricanes hitting Texas, Florida, Georgia, Puerto Rico and the U.S. Virgin Islands. We’re monitoring the situation closely to resolve potential tax...more

Clark Hill PLC

When Disaster Strikes: Picking up the Pieces

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The last few weeks have been a struggle for many Americans dealing with natural disasters. As employers and businesses attempt to make sense of losses and get back to business, below are some suggestions that may help during...more

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