Tax Breaks Offered to Ebola Victims

October 30, 2014 Taxation in USA

WASHINGTON D.C. – The IRS is providing some tax relief for taxpayers effected by Ebola, as was previously done in the past for victims of the earthquakes in Haiti, and the tsunami in Japan.

On October 29th the US Internal Revenue Service issued two notices stating that until the start of 2016 select donations made or payments received in regards to the Ebola outbreak in some nations in Africa may qualify to be exempt from income tax.

From now on payments or funds received in relation to any medical, quarantine or funeral expenses directly related to the Ebola outbreak in Guinea, Liberia, or Sierra Leone, will not be subject to personal income taxes.

Further, the IRS stated that if an employee request for their employer to make a donation on their behalf to a registered Ebola-related charity, using any accrued holiday leave that the employee has accumulated, then the value of that holiday time will not be subject to taxation, as it would have been under normal circumstances.

The IRS has provided similar relief programs in the past for other disasters, including the victims of the 2011 earthquakes in Japan, and the 2010 earthquake in Haiti.

Photo By: Ed Uthman