Section 139 of the Internal Revenue Code excludes from a taxpayer’s gross income certain payment to individuals to reimburse or pay for expenses related to a “qualified disaster”. Covid-19 is a federally declared disaster.
BHT&D Certified Public Accountants Blog
Section 139 Qualified Disaster Relief Payments Excludable From Gross Income
Posted by
Lori Shepard on Thu, Dec 03, 2020 @ 07:00 AM
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Tags: Tax Planning, Small Business, Individual Tax, COVID-19, Work From Home