Article Date:
April 2020


Word Count:
926

 

 

Tax Loophole Allows Tax-Free COVID-19 Payments to Employees


After the terrorist attacks on September 11, 2001, Congress added a little-known tax provision to the tax law.

 

This little-known tax code provision exempts certain payments from taxation during a disaster or terrorist attack.

 

President Donald Trump’s national emergency declaration triggered the disaster provisions of the tax law, including this one.

 

We’ll tell you how this can reap big benefits for both you and your employees during this COVID-19 pandemic. ... Log in to view full article.

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