[StBernard] According to LRA figures - taxes

[Westley Annis]

" The grants, which are averaging about $60,000, are not directly taxable.
But the Internal Revenue Service says Road Home recipients who claimed a
storm loss on their taxes last year should count the grants as income on
their federal tax returns this year. " 

For those who claimed uninsured losses in a prior year resulting in paying
less tax, it is only appropriate that grant money equall to the loss
deduction be considered as income in the year it is received. Not to do so
would be considered a duplication of benefits IMHO.

 

Bob F.