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Code Section 139: Little-Known Disaster Relief Benefits Now in the Spotlight
Faegre Drinker Link to more items from this source
[Guidance Overview]
Apr. 10, 2020

"Qualified disaster relief payments are excluded from gross income and are not subject to federal income tax, FICA or FUTA withholding; further, the payments are deductible by the employer. Thus, they do not have to be reported as income by the employee on an employee's Form W-2 or on a Form 1099. Employers should be aware, however, that Code Section 139 only addresses the tax treatment of these benefits under federal law; applicable state laws will need to be examined to determine if such amounts are subject to state income tax withholding."

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