The Internal Revenue Service (IRS) recently announced that Southern Californians affected by the natural gas leak in the Aliso Canyon storage field that was discovered on October 23, 2015, will not be required to include payments or reimbursements made to them by the Southern California Gas Company for temporary relocation in their income calculations for tax purposes. For more information, consult IRS Announcement 2016-25 (here).
Federal Tax Treatment of Reimbursements to Southern Californians Affected by Gas Leak
On behalf of Law Office of Williams & Associates, P.C. | Jul 22, 2016 | IRS