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

Tax relief following the recent disaster declaration for individual assistance issued by FEMA

Tax relief following the recent disaster declaration for individual assistance

The IRS issued a release announcing tax relief for taxpayers in Louisiana affected by severe storms that began May 17, 2021. This follows the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency (FEMA).

Read the IRS release—LA-2021-03 (June 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 May 17, 2021, and before August 16, 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

Carrie Garber Siegrist | +1 202 533 3056 | carriesiegrist@kpmg.com

 

 

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