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November 07, 2012

IRS Says Workers Can Give Up Leave for Storm Aid

American workers can forgo vacation, sick, and personal leave time and transfer the cash value of the days to groups providing Superstorm Sandy relief, The New York Times reports. The Internal Revenue Service announced temporary rules Tuesday making the leave donations, in the form of payroll deductions, exempt from income and payroll taxes if they are made by Jan. 1, 2014.

The IRS instituted similar measures after Sept. 11, 2001, terrorist attacks and Hurricane Katrina. The American Payroll Association, which represents payroll-services firms and their employees, had requested Sunday that the tax agency apply the rules to Sandy aid.