Home      Login

Abstract: 

During 2018, fires, storms, and flooding have resulted in federal disaster areas being declared in at least 10 states. These unfortunate events may affect private foundations in their capacity as taxpayers, and may also inspire foundations to make distributions or provide other assistance to help disaster victims recover. This article examines both the compliance relief and contribution strategies and guidelines for foundations responding to natural disasters. Covers filing relief under §7508A; safeguarding and recovering records in the wake of disaster; and the advisability of disaster response using contributions established charities.

Keywords: IRC §7508A Filing Relief; Tax Exempt Organization Search; Disaster Contributions as Taxable and Non-Taxable Expenditures

Affiliations:  1: Clark Hill Strasburger.