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

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.

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Tags: Tax Planning, Small Business, Individual Tax, COVID-19, Work From Home