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7 Things Tax Pros Are Grateful for This Thanksgiving Season, Law360

Wednesday, November 24, 2021

Partners Handy Hevener and Steven Johnson discussed with Law360 why they’re grateful for Internal Revenue Code Section 139. "We're thankful for Section 139 because it provides an exclusion for a wide variety of COVID-19 assistance payments, and thankful to the IRS for providing old and new guidance confirming how the exclusion applies," Handy said.

Employers have been able to use this section to cover payments for unexpected out-of-pocket expenses attributable to the pandemic. Steven shared that these expenses can include face coverings and trips to obtain vaccines or virus testing, as well as unexpected expenses related to working and teaching children at home, and the expenses of reopening offices.

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