Tweet
The Department of the Treasury and Internal Revenue Service (IRS) have set up a special program (Under Notice 2005-68) to encourage employees to donate their unused sick or vacation days to "aid victims who have suffered from the extraordinary destruction caused by Hurricane Katrina."
According to the IRS, employees can donate their vacation, sick or personal leave days back to their company. Their company then takes the value of the time donated and makes a cash donation to qualified tax-exempt organizations providing relief for the victims of Hurricane Katrina.
<script type="text/javascript">google_ad_client = "pub-8949118578199171";google_ad_width = 728;google_ad_height = 90;google_ad_format = "728x90_as";google_ad_channel ="";google_color_border = "EAEAEA";google_color_bg = "EAEAEA";google_color_link = "4271B5";google_color_url = "99CC66";google_color_text = "000000";</script>
<center><script type="text/javascript"src="http://pagead2.googlesyndication.com/pagead/show_ads.js"></script></center>
The employer must make the cash payment before January 1, 2007. In return, the employees do not have to count the donated leave as part of their income and employers are allowed to deduct the amount of the cash payment off their taxes.
If you consistently do not use all your vacation or sick days, talk to your employer about donating the unused time to help the victims of the Katrina disaster.
According to the IRS, employees can donate their vacation, sick or personal leave days back to their company. Their company then takes the value of the time donated and makes a cash donation to qualified tax-exempt organizations providing relief for the victims of Hurricane Katrina.
<script type="text/javascript">google_ad_client = "pub-8949118578199171";google_ad_width = 728;google_ad_height = 90;google_ad_format = "728x90_as";google_ad_channel ="";google_color_border = "EAEAEA";google_color_bg = "EAEAEA";google_color_link = "4271B5";google_color_url = "99CC66";google_color_text = "000000";</script>
<center><script type="text/javascript"src="http://pagead2.googlesyndication.com/pagead/show_ads.js"></script></center>
The employer must make the cash payment before January 1, 2007. In return, the employees do not have to count the donated leave as part of their income and employers are allowed to deduct the amount of the cash payment off their taxes.
If you consistently do not use all your vacation or sick days, talk to your employer about donating the unused time to help the victims of the Katrina disaster.
Comment