TAX TREATMENT

It is intended that funds received will be treated as “qualified disaster relief payments,” as defined in Section 139(b) of the Internal Revenue Code of 1986, as amended. This generally should mean that no tax applies to your receipt of funds.  It also means that you cannot claim a deduction if you use the funds for otherwise deductible payments (e.g., mortgage interest).  You should consult with your own tax advisor about tax issues related to receipt of funds.