December 23, 2023 | In The News
Derailment assistance still not tax exempt on federal level
THE REVIEW — With 2023 coming to a close and tax season around the corner, residents impacted by the Norfolk Southern train derailment are confronted with the likelihood that any financial assistance received in the wake of the rail disaster will be considered taxable income at the federal level. Time, they say, is running out as the Federal Disaster Tax Relief Act or H.R. 5863, which provides tax relief to victims of East Palestine, hurricanes and wildfires, sits dormant.
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(Derailment assistance still not tax exempt on federal level)