“Qualified disaster” declaration allowing employer-sponsored charities to provide relief

Tax relief for taxpayers in both North Carolina and South Carolina affected by Hurricane Ian

Tax relief for taxpayers in both North Carolina and South Carolina affected by hurricane

The IRS today issued a release announcing tax relief for taxpayers in both North Carolina and South Carolina affected by Hurricane Ian. This follows the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency (FEMA).

Read the IRS release—IR-2022-173 (October 5, 2022)

FEMA’s disaster declaration also allows certain employer-sponsored charities to provide disaster relief programs for affected employees. In particular, employer-sponsored private foundations and donor-advised funds may provide assistance to the sponsoring employer’s employees and their family members as long as the individuals receiving aid are affected by a qualifying disaster and certain safeguards are in place so that such assistance is serving charitable purposes. Read Publication 3833 [PDF 340 KB]. For additional information regarding how employers can assist employees affected by the disaster, read a 2021 report [PDF 172 KB] prepared by KPMG LLP: What’s News in Tax: Employers Helping Employees—Disaster Relief

The tax relief provided by the IRS to affected taxpayers postpones until February 15, 2023, various tax filing and payment deadlines that occur starting on September 25, 2022, in South Carolina, and September 28, 2022, in North Carolina—including for affected tax-exempt organizations, reporting on a calendar-year basis, that had a valid extension due to run out on November 15, 2022. Read TaxNewsFlash

For more information, contact a tax professional with KPMG’s Washington National Tax practice:

Ruth Madrigal | ruthmadrigal@kpmg.com

Preston Quesenberry | pquesenberry@kpmg.com


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