Regulatory Updates
Regulatory Updates provide quick access to employee benefit regulations, rulings and other guidance released by governmental agencies in the U.S. and Canada.
New updates to this page may be included in Today’s Headlines which is emailed to International Foundation members each business day. Inquiries regarding these updates should be directed to the Benefits Knowledge Center at the International Foundation at (888) 334-3327, option 5 or [email protected].
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IRS Issues Guidance on Employer Leave-Based Donation Programs That Aid Victims of the Wildfires in Hawaii
Sep 29, 2023, 05:00
by
Tyler Lloyd
The Internal Revenue Service (IRS) issued Notice 2023-69
providing guidance for employers whose employees forgo sick, vacation
or personal leave to aid victims of the wildfires that began in parts of
Hawaii on Aug. 8, 2023.
Notice 2023-69 provides that:
- Cash payments employers make to charitable organizations during 2023 and 2024 providing relief to victims of the wildfires in Hawaii in exchange for sick, vacation or personal leave which their employees forgo will not be treated as compensation;
- Employees will not be treated as receiving the value of the leave as income and cannot claim a deduction for the leave that they donated to their employer.