“Qualified disaster” declaration allowing employer-sponsored charities to provide relief (Florida)
FEMA’s disaster declaration allows certain employer-sponsored charities to provide disaster relief programs for affected employees.
Allows employer-sponsored charities to provide relief
The IRS issued a release announcing tax relief for taxpayers in Florida affected by Hurricane Nicole. This follows the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency (FEMA).
Read the IRS release—FL-2022-20 (December 16, 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 is provided by the IRS to affected taxpayers who now have until March 15, 2023, to file various individual and business tax returns and make tax payments. Read TaxNewsFlash
For more information, contact a tax professional with the KPMG Washington National Tax practice:
Ruth Madrigal | firstname.lastname@example.org
Preston Quesenberry | email@example.com
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