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Qualified disaster relief payments - Taxable or non-taxable Georgia Florida

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  • Qualified disaster relief payments - Taxable or non-taxable Georgia Florida

    My Company (located in Florida) has decided to not only contribute to a fund to be paid to employees in need, but they also are allowing employees to contribute to the fund as well. How it will work is for every dollar an employee contributes, the employer will match that amount dollar for dollar. Then, the company will disburse the $ via Payroll to the employees in need.

    My question is, is the ER piece taxable income (I believe it is exempt if it is for a "Qualified Disaster" but not sure)? Also, what about the employee contribution... I do not have any idea if the Employee Contribution piece is taxable or not.

    Additionally, what box (if any) should these 2 (EE & ER) payments appear in, on the W2?

    Can someone please help me with this?

    Thanks so much for the help.

  • #2
    You really need the advice of a tax accountant.

    But you might check out this link:
    https://www.mcguirewoods.com/Client-...Employees.aspx (but this is about TX and that hurricane...I did see on my benefits board that I visit that some had also been applied to Florida, but you might have to have a specific alert from the IRS to use this program with each disaster)

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