A BIG thank you goes out to ALL of our volunteer first responders. Sometimes we don’t say that enough. Most folks don’t realize the hours of training, drills, meetings, and out-of-pocket costs you incur. Thank you again for all you do!
It’s not a lot, but the IRS has reinstated a small benefit for those who qualify. Here’s the rundown.
Effective for tax years beginning after 2007 and before 2011, gross income did not include the following for volunteers who performed services for a qualified volunteer emergency response organization:
- Rebates or reductions of property or income taxes provided by a state or local government for providing services as a member of a qualified emergency response organization.
- Qualified payments made by a state or local government for providing services to the emergency response organization up to $30 for each month the member performs such services.
The new law reinstates this provision for one year only for the 2020 tax year. The new law also increases the exclusion for qualified reimbursement payments from $30 to $50 for each month during which a volunteer performs services.