The US Senate Finance Committee is still finalising details of the new legislation that will provide tax relief to the victims of the September 11 terrorists attacks.
Meanwhile the House bill (H.R. 2884) has been amended to offer income and estate tax relief to the victims as well as military personnel who die or are injured in combat. Also under the bill, estate tax liability will be cut by more than half and civilian victims will be exempt from federal income tax liability in the year the attack took place. Federal Emergency Management Agency assistance payments will also be exempt from federal income tax.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment