Washington (Feb. 7, 2003) -- The Senate Finance Committee is offering some solace to the grieving families of the Columbia space shuttle crew in the form of a tax break.
Under legislation approved Wednesday by the Finance Committee, the families will not owe federal tax on any income earned for this year or 2002. Also exempt from taxation is any death benefit paid by the government in connection with the accident. Additionally, the legislation provides estate tax relief for those who flew aboard the shuttle.
The bill was designed to give families of the astronauts the same tax breaks provided to families of military personnel who die in the line of duty, victims of the Sept. 11 terrorist attacks, and victims of the 1995 bombing in Oklahoma City.
-- Electronic Accountant Newswire staff
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access