Federal tax credit for wages paid during hurricane recovery

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October 2017


On September 29, 2017, President Trump signed the Disaster Tax Relief and Airport and Airway Extension Act of 2017, H.R. 3823, which provides certain tax relief to taxpayers impacted by Hurricanes Harvey, Irma, and Maria. Notably, H.R. 3823 provides an employee retention tax credit equal to 40% of up to $6,000 of qualified wages paid by eligible employers to eligible employees.

The recent wave of natural disasters has significantly impacted companies through lost revenue as businesses were rendered inoperable and through increased costs as businesses recover from storm-inflicted damages.  The federal credit for qualified wages paid during this difficult time may serve as a welcome relief to those affected businesses.

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Peter Michalowski

Peter Michalowski

State and Local Tax Leader, PwC US

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