“Qualified disaster” declaration allowing employer-sponsored charities to provide relief (Louisiana)

“Qualified disaster” declaration

The IRS issued a release announcing tax relief for taxpayers in Louisiana affected by winter storms that began February 11-19, 2021. This follows the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency (FEMA).

1000

Related content

Read the IRS release—LA-2021-02 (March 10, 2021)

FEMA’s disaster declaration also allows certain employer-sponsored charities to provide disaster relief programs for affected employees. In particular, employer-sponsored private foundations and donor-advised funds may provide assistance to the sponsoring employer’s employees and their family members as long as the individuals receiving aid are affected by a qualifying disaster and certain safeguards are in place so that such assistance is serving charitable purposes. Read Publication 3833 [PDF 340 KB]

The tax relief provided by the IRS to affected taxpayers postpones the due date for tax return filings due on or after February 11, 2021, and before June 15, 2021—including tax-exempt organizations, operating on a calendar-year basis, that have a 2020 return due on May 17, 2021—until June 15, 2021. Read TaxNewsFlash


For more information, contact a tax professional with KPMG’s Washington National Tax practice:

Ruth Madrigal | +1 202 533 8817 | ruthmadrigal@kpmg.com

Preston Quesenberry | +1 202 533 3985 | pquesenberry@kpmg.com

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal