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Tax Relief for Non-Profits in Disaster Areas Against Medicare Taxes.

This law makes it easier for non-profit organizations affected by natural disasters to receive financial aid. It allows them to claim the Employee Retention Credit against Medicare hospital insurance taxes. This change helps these organizations stabilize their finances, ensuring they can continue providing vital community services after a disaster.
Key points
Non-profit organizations (like charities) in disaster zones gain easier access to the Employee Retention Credit.
The credit can now be applied specifically against Medicare hospital insurance taxes.
The changes are retroactive, allowing organizations to claim this relief for past periods.
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Additional Information
Print number: 118_S_3552
Sponsor: Sen. Kennedy, John [R-LA]
Process start date: 2023-12-14