Luria secures IRS tax guidance on gift distributions to Virginia Beach shooting victims
“My focus remains on the families of the 12 wonderful people who were taken from us before their time and those who were injured,” Congresswoman Elaine Luria said. “I am glad that the IRS has recognized the unfathomable hardships that our community experienced, and I will continue to do everything possible to assist the victims, their families, and our Virginia Beach community.”
City officials had approached Congresswoman Luria with questions surrounding taxation of disbursements from a fund they established to help victims, survivors, and their families. For more information about the city’s efforts, please click here.
In a letter sent this week to IRS Commissioner Charles R. Rettig, Congresswoman Luria asked the IRS “to confirm that such payments are excluded from income as gifts.”
Commissioner Rettig responded in a letter dated June 13: “Payments that individuals receive, directly or indirectly, from members of the public in response to a disaster or emergency hardship are considered gifts and are excluded from the gross income of the recipients under Section 102 of the Internal Revenue Code.”
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