IRS publishes details for 2018-2019 Disaster Relief
IRS published information and instructions for companies to claim a special retention tax credit, available for businesses impacted by 29 identified natural disasters.
Disaster Relief Highlights:
- Businesses that retained employees during these disasters are entitled to claim a tax credit equivalent up to $2,400 per eligible employee
- The identified disasters include Hurricanes Michael, Harvey, Texas’ severe storms, as well as California’s wildfires, to name a few
- Disaster Relief Zones include select counties within California, Texas, Florida, North Carolina, South Carolina, Georgia, Ohio, Oklahoma, Alabama, Mississippi, Indiana and other states and U.S. territories.
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