Income tax and natural disasters
January 11th, 2008Natural disasters are unpredictable. In recent years, we came across number of hurricane disasters that had an adverse effect on the global economy. There are some special reliefs issued for the disaster-affected people. In 2005, Government passed a special act Gulf Opportunity Zone Act to help such devastated areas. The major benefit of this act is that, anyone settling in gulf coast area of USA can have liability under this act in emergencies.
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