Hurricane Relief

October 06, 2017





Hurricane tax relief has many pieces. On Sept. 29, Congress passed the Disaster Tax Relief and Airport and Airway Extension Act of 2017, to assist victims of Hurricanes Harvey, Irma and Maria. President Trump quickly signed it into law. The relief includes help for individuals and a valuable tax credit for eligible employers whose businesses were “rendered inoperable” for some period after the disaster. The “employee retention credit” equals 40% of up to $6,000 of qualified wages with respect to each eligible employee of such employer for the tax year.