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Is emergency financial assistance from The Red Tab Foundation taxable?

April 26, 2017emergency financial foundation red Tab taxable

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Is emergency financial assistance from The Red Tab Foundation taxable?

1 Answer

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It depends on each country’s regulatory laws. If it is determined that the assistance is taxable, the Red Tab Foundation will provide the employee with additional funds to pay the estimated tax. It then becomes the employee’s responsibility to report the financial aid and pay the required tax.