New law offers relief to terrorist attack victims

New law offers relief to terrorist attack victims

On Jan. 23, 2002, President Bush signed the Victims of Terrorism Tax Relief Act of 2001 (VTTRA), providing income and estate tax relief to "specified terrorist victims" (STV). Special tax treatment is not unusual; in the past, it was extended to American hostages held captive in Iran and v...

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Veröffentlicht in:The Tax Adviser 2002-05, Vol.33 (5), p.313
Hauptverfasser: DiRe, Elda A, Sawyers, Roby B, Sullivan, Neil A.J, Westort, Peter J
Format: Magazinearticle
Sprache:eng
Schlagworte:
Anthrax
Armed forces
Attorneys general
Deferred compensation
Disaster relief
Employees
Estate taxes
Excise taxes
Federal legislation
Income taxes
Injuries
Liability
Local government
Settlements & damages
Tax deductions
Terrorism
Victims of crime
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Zusammenfassung:On Jan. 23, 2002, President Bush signed the Victims of Terrorism Tax Relief Act of 2001 (VTTRA), providing income and estate tax relief to "specified terrorist victims" (STV). Special tax treatment is not unusual; in the past, it was extended to American hostages held captive in Iran and victims of the bombing of Pan American Airways flight 103 over Lockerbie, Scotland. This article describes the VTTRA provisions and their ramifications.
ISSN:0039-9957