Ebola relief qualifies for leave-based donations

In Notice 2014-68, the IRS provided guidance on leave-based donation payments aiding victims of the Ebola outbreak. Employers may make cash payments before Jan. 1, 2016, to Sec. 170(c) organizations for relief of victims in Guinea, Liberia, and Sierra Leone in exchange for employees’ election to forgo their vacation, sick, or personal leave. The forgone leave will not constitute gross income or wages of the employees (who may not claim a charitable contribution deduction for its value). The Service will not require employers to deduct such payments under Sec. 170 rather than Sec. 162.

In addition, Notice 2014-65 designates the Ebola outbreak in the three countries as a qualified disaster under Sec. 139, meaning that affected taxpayers receiving qualified disaster relief payments under Sec. 139(b) will not include them in gross income.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.