March 25, 2020
The 2019 Taxpayer Certainty and Disaster Relief Act temporarily renews approximately two dozen credits, including disaster tax relief credits. These disaster relief credits cover the period the business location became inoperable due to qualifying disasters up until the date the location resumed operations, or until January 1, 2020, whichever comes first.
Qualifying businesses with locations within the disaster zones could receive up to $2,400 per eligible employee for wages paid or incurred during the time the employer’s business was located in a qualifying disaster zone.
Do you qualify for disaster relief tax credits?
Was your business located in a qualifying disaster zone in 2018 or 2019? Did the disaster render your business inoperable — even for one day? If you answered yes to both of those questions, then you may qualify for a disaster relief tax credit!
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