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Virginia

IRS: Many Payments for East Palestine Train Disaster Often Tax-Free

IRS said many payments to individuals affected by the East Palestine train derailment are tax-free. New guidance for Ohio, Pennsylvania, and West Virginia.

By: Small Business Trends
  • Jul 08 2024
  • 2
  • 4353 Views
IRS: Many Payments for East Palestine Train Disaster Often Tax-Free
IRS: Many Payments for East Pa
The Internal Revenue Service (IRS) has announced that many payments made to individuals affected by the East Palestine train derailment in Ohio are not taxable. According to Notice 2024-46, posted on… [+3450 chars]

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