alert - warning

This page has not been translated into Tiếng Việt. Visit the Tiếng Việt page for resources in that language.

J. Federal Income Tax on Mitigation Project Assistance

FEMA mitigation assistance that benefits property owners by mitigating their structures is not subject to federal income taxation. FEMA mitigation assistance used to acquire a property will be treated as an involuntary conversion for tax purposes. For more information, property owners should consult the Internal Revenue Service office or a tax advisor.