Few natural disasters have had the devastating impact that Hurricane Katrina had on the U.S. Gulf Coast. The scenes of New Orleans under water will stick with many for a lifetime. Even as the water was receding, Congress stepped in with an extensive package of legislation to provide relief to the victims of this crippling storm. While Katrina victims are only just now able to begin taking advantage of this tax relief, charitable donors and family members who have tapped into retirement funds to assist relatives can already begin their tax planning work. CCH has prepared an extensive look at the Katrina legislation in a special Tax Briefing.
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products.