Social Clubs and Coronavirus: Tax View on Qualified Disaster Payments, Part 2

Written by: James J. Reilly, CPA, JD In March 2020, HFTP published a TaxViews article entitled “Social Clubs and the Coronavirus Pandemic,” where we discussed Qualified Disaster Payments pursuant to Internal Revenue Code (“IRC”) Section 139. The coronavirus pandemic was designated as a disaster on March 13, 2020 which permits…

Relief to Help Hospitality Businesses Weather Economic Impact of COVID-19

It is not news that the world is seeing a period of economic decline unlike any it has ever seen. We are all experiencing it. In response to the stagnant economy brought on by the COVID-19 pandemic, the United States Federal Government has in the past month passed several relief…

Social Clubs and the Coronavirus Pandemic: A Tax View on Qualified Disaster Payments

Written by: James J. Reilly, CPA, JD On March 13, 2020, [United States] President Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (the “Declaration”) because of the challenges resulting from the coronavirus pandemic. The Declaration provides methods for employers, including social clubs,…