Hurricane Florence made landfall in North Carolina on Sept. 14, 2018 as a Category 1 hurricane and brought with it a record amount of rainfall and a massive loss of power throughout the state of North Carolina, as well as parts of South Carolina.
When the winds decreased, the rains came. The magnitude of the storm brought destruction for an extended period of time. On Sept. 15, 2018, President Trump approved a major disaster declaration for certain counties in North Carolina.
Some business owners have asked if they can provide support for their employees and, if so, what the tax consequences are.
Thankfully, under Internal Revenue Code Section 139, an employer can make tax-deductible payments to help an employee and the payments do not have to be included in the employee’s income, provided that all rules are followed, and the qualifications are met.
This means the payments the employer makes to the employee are not treated as wages or compensation, which makes the payments nontaxable. No federal income tax is withheld and the payment amounts are not subject to FICA taxes.
To be eligible, the following qualifications must be met:
Cece Nunn - Jul 15, 2019
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Cheryl L. Serra - Jul 15, 2019
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